South Korean Naver Corp. will build digital replicas of Mecca, Medina and Riyadh
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South Korean technology company Naver Corporation received a contract to develop and manage a cloud platform for Saudi Arabia, on which digital copies of five cities in this country will be created. Under the terms of the contract, Naver will create a virtual version of Riyadh, Medina, Jeddah, Dammam and Mecca and will operate the cloud platform for five years, starting in 2024.
Digital copies of cities are necessary for working on the implementation of smart city projects, for testing and testing different ideas using digital simulations, for urban planning, monitoring, and also for predicting natural disasters. As part of the Saudi project, a cloud platform for digital copies of cities will be open to local startups and specialized organizations that will be able to participate in the development of various services related to navigators, traffic conditions, the movement of unmanned vehicles, etc.
Naver beat out other contenders for this order. In March 2023, the company signed an agreement with Saudi Arabia on cooperation in the field of digital development. Since March, Saudi Arabian officials have repeatedly visited Naver’s South Korean office to inspect the company’s work and discuss the terms of the project. The final agreement was signed during a visit to Saudi Arabia by South Korean President Yoon Seok-yeol. The financial terms of the deal are not disclosed, but agency sources Yonhap indicate that it exceeds $100 million. Naver shares rise by almost 5% on the back of the news.
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