Naver Corp, South Korea’s premier internet portal operator, has announced plans to establish a regional headquarters in Saudi Arabia by the end of 2024. This move is part of the company’s strategy to expand its global presence and tap into new markets with its advanced technologies in AI, cloud computing, and robotics.
Founded in 1999, Naver has evolved from a search platform into a diverse global technology enterprise, engaging in sectors such as commerce, fintech, content, and more. According to the Korea Economic Daily, Naver’s decision to set up its Middle Eastern unit, Naver Arabia, aligns with its ambitions to leverage its new growth engines in the region.
The establishment of Naver Arabia will be facilitated through Saudi Arabia’s Regional HQ (RHQ) Programme, a collaboration between the Ministry of Investment and the Royal Commission for Riyadh City. This initiative offers foreign companies incentives to establish operations in Saudi Arabia as part of the kingdom’s Vision 2030 and National Investment Strategy.
The new headquarters is expected to enable Naver to participate in additional national projects within Saudi Arabia’s cutting-edge technology sector, enhancing its business prospects in the region.
Moreover, Naver is exploring joint ventures with local partners for various projects. One such project includes a digital twin platform joint venture with Saudi Arabia’s Ministry of Municipal and Rural Affairs (MOMAH). Earlier this month, Naver also signed a memorandum of understanding with the Saudi Data & AI Authority (SDAIA) to co-develop an Arabic large language model, along with advancements in cloud computing and robotics technologies, contributing to the Saudi Vision 2030 projects.
