A delegation of top-ranking Saudi Arabian business leaders visited Naver’s second headquarters on Tuesday to explore the company’s cutting-edge digital twin technology. Naver, South Korea’s leading internet portal operator, announced the visit on Wednesday, highlighting the strategic partnership aimed at advancing smart urban planning in Saudi Arabia.
Strengthening International Partnerships
The visit by Saudi Arabia’s business delegation was in response to a significant contract Naver secured last year. Valued at $100 million (134.4 billion won), the contract entails the development of cloud-based digital twin platforms for Riyadh and four other major Saudi cities over a five-year period. This ambitious project underscores the growing collaboration between South Korea and Saudi Arabia in the realm of advanced technologies.
Key Delegation Members
The Saudi Arabian delegation comprised influential figures including:
- Michael Dyke, CEO of New Murabba
- Assim AlSuhaibani, CEO of Riyadh Holding Company
- Faisal bin Ayyaf, Mayor of Riyadh
- H.E. Sami M. Alsadhan, Saudi Arabia’s Ambassador to Korea
These leaders are pivotal partners in Naver’s digital twin project, aiming to enhance urban planning, monitoring, and flood prediction capabilities in Saudi Arabia.
Exploring Digital Twin Technology
During their visit to Naver’s 1784 high-rise building in Seongnam, Gyeonggi Province, the Saudi delegation was thoroughly briefed on the operations of digital twin technology. This innovative technology creates virtual replicas of real-world cities, objects, or spaces, enabling comprehensive smart urban planning and management.
“This marks the first time that top executives from our partner firms involved in the digital twin project visited our 1784 headquarters. They held in-depth discussions with Naver over extending their partnerships to a broad level by utilizing Naver’s various services and technologies,” a Naver spokesperson stated.
Applications and Benefits
Digital twin technology offers numerous advantages, including:
- Enhanced Urban Planning: Facilitates detailed simulations and planning for city development.
- Real-Time Monitoring: Provides continuous oversight of urban infrastructures.
- Flood Prediction: Enables accurate forecasting and management of flood risks.
Expanding Presence in the Middle East
Naver is set to establish a new office branch in Riyadh by the end of 2024, named Naver Arabia. This branch will oversee the company’s operations across the Middle East, accelerating the ongoing digital twin project and fostering deeper technological integration within the region.
Future Collaborations
Both Naver and the Saudi delegation are keen on diversifying the use of digital twin platforms. Discussions focused on leveraging Naver’s extensive range of services and technologies to expand the project’s scope and impact.
“All members of the business delegation from Saudi Arabia are core tech partners for Naver, so both sides also engaged in talks on how to diversify the use of digital twin platforms down the road,” the Naver spokesperson added.
Previous Success and Future Prospects
In July, Naver launched its digital twin project in Saudi Arabia, utilizing its advanced 3D modeling technology to create virtual replicas of major cities. This initiative aims to support smart urban planning and management, contributing to Saudi Arabia’s Vision 2030 goals of developing sustainable and technologically advanced cities.
Impact on Saudi Arabia
The digital twin project is expected to play a crucial role in:
- Smart Urban Development: Aligning with Saudi Arabia’s Vision 2030 to create sustainable and efficient urban environments.
- Technological Innovation: Promoting the adoption of advanced technologies for better city management.
- Economic Growth: Enhancing collaboration between Korean and Saudi companies, driving economic prosperity.
Conclusion: Paving the Way for a Technologically Advanced Future
The visit of Saudi Arabia’s business delegation to Naver’s headquarters signifies a strong commitment to fostering international collaboration in technology. By leveraging digital twin technology, both nations aim to achieve significant advancements in urban planning and smart city development, paving the way for a sustainable and prosperous future.
