Wave Lifestyle Tech signs MOU with Saudi gov't to expand robot business

Wave Lifestyle Tech, a South Korean foodtech robot company, said on Monday that it has signed a memorandum of understanding with Saudi Arabia’s Ministry of Investment to collaborate on expanding its robot business in the kingdom and the Middle East region.

The company said it aims to provide robot services in various sectors, starting with the food industry, as part of Saudi Arabia’s digital transformation efforts. The ministry will support Wave’s joint ventures and investment opportunities in the region.

This is the first time that a South Korean robot company has signed an MOU with the Saudi ministry. Wave also showcased its robot technology at Vivan 2023, Saudi Arabia’s largest startup event, where it met with officials from both countries.

Wave’s CEO Kim Bum-jin said that his company plans to introduce robots to various fields in Neom City, a futuristic megacity project that includes The Line, a linear urban development. He said that Wave will be a pioneer in bringing robots to Saudi smart cities through the MOU.

Write to See-Eun Lee at see@hankyung.com