[Exclusive] Naver establishes a branch office in Riyadh, Saudi Arabia...“It is expected to be applied as a mandatory requirement for all companies participating in the Neom City order”
This article is translated by AI company Flitto and Alhpa Biz neural machine translation technology
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stockmk2020@alphabiz.co.kr | 2023-04-03 20:01:28
[Alpha Biz=(Chicago) Reporter Kim Jisun] Naver will set up a head quarter and branch office in Riyadh, the capital of Saudi Arabia, as early as the first half of the year.
In particular, the contents will be specified in writing, which is expected to be mandatory for all companies participating in the Neom City order.
According to Alpha Economy coverage on the 3rd, Naver is planning to establish a branch office in Riyadh, the capital of Saudi Arabia, as early as the first half of the year.
"I understand that the memorandum of understanding signed between the Saudi government and Naver contains a requirement to establish a branch in Riyadh," said a senior official at the Ministry of Land, Infrastructure and Transport. "Naver is also positively considering establishing a branch in Riyadh as early as the first half of the year."
Saudi Arabia's Ministry of Public Administration and Housing and Investment and Naver held an agreement ceremony at the Ministry of Self-Government Administration and Housing building in Riyadh, Saudi Arabia, on the 30th of last month and agreed to comprehensively cooperate on the national-level digital conversion project pushed by the local government.
Analysts say that the agreement also gave Naver a green light to win orders for "Neom City," the world's largest smart city worth 650 trillion won. "It is well known that domestic and foreign global companies, which have won the order for Neom City, have branch offices in Dubai. The fact that we have specified the establishment of a Riyadh branch on MOU with Naver means that if you want to win an order related to Neom City, don't think about going in and out of Dubai," said Cho Ho-jin, CEO of Tachyon World.
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