On May 25 (local time), Kakao Mobility CEO Ryu Geung-seon (left) and Jerry Inzerillo, Group CEO of Diriyah Company, pose for a commemorative photo after signing a memorandum of understanding (MOU) for the joint development of future mobility services at the Diriyah Gate Development Authority in Saudi Arabia. (Image provided by Kakao Mobility)
SEOUL, June 2 (Korea Bizwire) — Kakao Mobility announced Sunday that it has signed a partnership agreement with the Saudi Arabian government to participate in the Diriyah Project, a $63 billion urban development initiative that forms part of the kingdom’s broader “Giga Projects” strategy.
Under the agreement, Kakao Mobility will develop and export integrated mobility solutions—including a smart parking platform—for the massive infrastructure project. The South Korean company plans to oversee the deployment of parking infrastructure and provide services such as parking reservations and digital payments within the development.
The Diriyah Project is a flagship undertaking by the Saudi government to transform a 14-square-kilometer area—roughly 20 times the size of Seoul’s Yeouido—near the birthplace of the Saudi royal family into a luxury urban destination. The site will feature upscale resorts, villas, hospitals, and shopping centers.
“This collaboration allows us to showcase the quality and scalability of our mobility platform solutions in the global market,” said Kakao Mobility CEO Ryu Geung-seon, citing the company’s growing experience in offering taxi and rental car services abroad.
The deal marks another step in Kakao Mobility’s overseas expansion efforts, positioning the firm as a potential player in smart city infrastructure as demand rises in the Middle East.
Kevin Lee (kevinlee@koreabizwire.com)
