The <a style="color: #993300;" href="http://momrah.gov.The Ministry of Municipal and Rural Affairs and Housing and the Ministry of Investment signed a memorandum of understanding with NAVER, LABS NAVER and NAVER Cloud, a Korean IT company that specializes in the production and development of Internet-related information technology, under the patronage of H.E. <a style="color: #993300;" href="https://amlak. Mr. Majid bin Abdullah Al Haqeel, Minister of Municipal and Rural Affairs and Housing, and H.E. Khalid bin Abdulaziz Al Falih, Minister of Investment.
The memorandum was signed by the Undersecretary of <a style="color: #993300;" href="https://amlak.net.The Ministry of Municipal and Rural Affairs and Housing for digital transformation and smart cities, Engineer Musaed bin Abdullah Al-Otaibi, Undersecretary of the Ministry of Investment for Investment Development Fahad bin Jamal Al-Naim, while the Korean side was represented by Seon Jo for NAVER, Song Seok for LABS NAVER, and NAVER Cloud by Sangyong Han.

The MoU was signed by the Ministry of Municipal and Rural Affairs and Housing. The MoU aims to enhance mutual cooperation between the parties to support and develop investment in the Kingdom, and to unify their efforts with the relevant authorities of each party to raise the level of coordination and effective joint work in everything that supports and promotes the achievement of common goals, as the Ministry of Investment will support facilitating the entry of NAVER to invest in the Kingdom by obtaining licenses and others, and exploring the possibility of moving the company's regional headquarters to the Kingdom in the future.

The Korean companies present plans to develop and operate digital solutions for the Ministry of Municipal and Rural Affairs and Housing to enable the activation of the main pillars of smart municipalities with high efficiency in various fields such as monitoring, city planning, municipal services, visual deformation and simulation of city planning, development and operation.

It is noteworthy that these agreements come as an extension of the strategic partnerships held by the two ministries with a number of regional and international entities to exchange experiences and work on the implementation of joint projects, and to enhance mutual cooperation between the parties to support and develop investment in the Kingdom in line with the national investment strategy, to raise the level of coordination and effective joint work in everything that supports and promotes the development, marketing and implementation of investments.