Naver secures $100 mn digital twin project in Saudi Arabia

South Korea's dominant web portal giant Naver Corp. has won a contract to develop a Digital Twin platform for Saudi Arabia's Ministry of Municipal and Rural Affairs (MOMRAH), sources familiar with the matter said on Tuesday.

While Naver did not specify the contract's size, the deal is valued at around $100 million, according to sources, including those from the presidential office.

The Digital Twin technology mirrors real-world entities in a virtual environment, aiding in real-time decision-making via data analysis, prediction, and optimization. The platform is set to be cloud-based, focusing on 3D digital modeling.

This venture marks Naver's debut in the Middle East, eyeing major cities like Riyadh and Mecca for the project's five-year span. The platform plays a pivotal role in building smart cities, underscoring the importance of the project.

Saudi Arabia envisions leveraging this platform for tasks like urban planning and flood predictions. A key aspect is that the nation's public digital services, directly impacting its citizens, will be initialized and managed by the Korean IT titan.

Naver's ambitious roadmap includes building a premier Digital Twin platform and amalgamating advanced technologies such as AI, robotics, and cloud solutions. The company emphasizes the platform's open-ended architecture, fostering collaborations with both local Saudi and South Korean entities.

The platform's potential extends to a multitude of services, from smart city blueprints using simulators to AI-enabled mapping. Additionally, partnerships have been inked with Korea Land and Geospatial Informatix Corporation (LX) and Korea Water Resources Corporation in support of the platform's creation.

Write to Ju-Hyun Lee at 2juhyun@hankyung.com