Team Naver Partners with Local Startups to Target Saudi Digital Market

Team Naver, a leader in global digital innovation, has partnered with South Korean tech startups to pioneer Saudi Arabia's dynamic digital market. This is seen as a crucial first step for K-digital technology to land in the Middle East. On the 10th (local time) at 'LEAP 2025', a global tech conference held in Riyadh, Saudi Arabia, Naver Cloud signed a Memorandum of Understanding (MOU) with 11 promising domestic startups for 'Information Exchange and Business Cooperation among Domestic Digital Companies for Entering the Saudi Digital Market', opening up possibilities for a new digital Silk Road. Key officials from Team Naver, including Chae Seon-ju, Naver's Head of External/ESG Policy, Kim Yu-won, CEO of Naver Cloud, and Seok Sang-ok, CEO of Naver Labs, graced this historic signing ceremony with their presence. In addition, figures from government and public institutions, such as Lee Sang-joong, President of the Korea Internet & Security Agency (KISA), and Moon Byeong-jun, Deputy Ambassador of the Republic of Korea to Saudi Arabia, also attended, expressing high expectations for this collaboration. The startups participating in this agreement are innovative companies shaping the future of South Korea's digital technology. A total of 11 companies, including security software specialists SSNC, Sparrow, and Genian, smart city solution providers Wizcorea, Yurak, and ZISON, autonomous driving technology firm Mobiltech, and AI solution companies Octaco and Vernect, demonstrated outstanding capabilities in their respective advanced fields, expanding the scope of cooperation. Alongside powerhouses in software development and network security like Exgate and Synexsystem, they are set to inject new vitality into the Saudi digital ecosystem. Through this MOU, Team Naver plans to actively support South Korean startups so that their unique technological capabilities can become a key driving force for the expansion of the Saudi digital ecosystem. In particular, Team Naver's experience, having already partnered with Korea Land and Geospatial Information Corporation (LX) and Korea Water Resources Corporation (K-water) to participate in Saudi digital twin platform construction projects, and having built a deep understanding and network in the local market, is expected to generate powerful synergy for domestic startups. Chae Seon-ju, Naver's Head of External/ESG Policy, emphasized, "Saudi Arabia's digital market is poised for explosive growth and possesses infinite potential," presenting a vision of shared growth, stating, "Through this collaboration, we will build more practical partnerships with domestic startups and partners possessing excellent technological capabilities to create opportunities for mutual growth." This collaboration between Team Naver and domestic startups is anticipated to accelerate digital transformation in line with Saudi Arabia's 'Vision 2030' policy and serve as a significant stepping stone for South Korean digital technology to expand beyond the Middle Eastern market to the global stage. Beyond simple market entry, it will become an exemplary case of creating new value through mutual cooperation and leading global digital innovation.