Riyadh: The Ministry of Municipal, Rural Affairs, and Housing and the Ministry of Investment have signed a memorandum of understanding (MoU) with the Korean group NAVER, NAVER LABS, and NAVER Cloud, specializing in information technology.

The MoU was signed in the presence of the Minister of Municipal, Rural Affairs, and Housing, Majid Abdullah Al-Hogail, and the Minister of Investment, Eng. Khalid Abdulaziz Al-Falih.

The MoU was signed by the Undersecretary of the Ministry of Municipal and Rural Affairs and Housing for Digital Transformation and Smart Cities Musaed bin Abdullah Al-Otaibi and the Undersecretary of the Ministry of Investment for Investment Development Fahd bin Jamal Al-Naim. The Korean side was represented by Seon-Ju from NAVER, Seok Sang-ok from NAVER LABS, and Sang-young Han from NAVER Cloud.

Under the MoU, the parties aim to enhance cooperation to develop investment in the Kingdom of Saudi Arabia and to unify efforts with relevant authorities to achieve common goals.