SEOUL, Aug. 22 (Korea Bizwire) — With Saudi Arabia reportedly falling behind on its preparations to host the 2029 Asian Winter Games, the continent’s top sports body is gauging South Korea’s interest in becoming an alternate host, a source familiar with the matter said Friday. The source told Yonhap News Agency the Olympic Council of [...]
SEOUL, March 13 (Korea Bizwire) — Doosan Enerbility Co. said Thursday it has secured a 2.2 trillion-won (US$1.52 billion) contract to build two combined cycle power plants in Saudi Arabia. The company said it has signed the engineering, procurement and construction (EPC) contract for the construction of Luma 1 and Nairiyah 1 power plants, each [...]
SEOUL, Nov. 18 (Korea Bizwire) — South Korean tech giant Naver Corp. said Monday it will establish a joint venture with Saudi Arabia’s state housing company to collaborate for digital twin platform projects in the Middle East. Naver and Saudi Arabia’s National Housing Company signed a memorandum of understanding for the establishment of the joint [...]
SEOUL, Oct. 28 (Korea Bizwire) – South Korean technology companies are rapidly expanding their presence in the Middle East, focusing on artificial intelligence (AI), cloud computing, and cybersecurity initiatives. Naver, South Korea’s leading IT platform company, is spearheading this expansion. The company announced on September 23 that it plans to establish “NAVER Arabia,” its Middle East [...]
SEOUL, Oct. 1 (Korea Bizwire) — Hyundai Motor Group said Tuesday it has signed an initial pact with a Saudi Arabian foundation for cooperation in a smart city project. The South Korean automotive group and Misk Foundation signed a memorandum of understanding (MOU) for a partnership in a Saudi Arabian smart city project and to [...]
SEOUL, Sept. 13 (Korea Bizwire) – Naver, the South Korean internet giant, is set to collaborate with Saudi Arabia’s Data and Artificial Intelligence Authority (SDAIA) to develop a large language model (LLM) based on Arabic, marking a significant step in the company’s Middle Eastern expansion strategy. On September 10, during the three-day Global AI Summit conference [...]
SEOUL, Jul. 30 (Korea Bizwire) — South Korea’s industry ministry said Tuesday it has discussed ways to broaden economic exchanges with Saudi Arabia, pledging to work closely toward the prompt implementation of a free trade pact between Seoul and the Gulf Cooperation Council (GCC). Industry Minister Ahn Duk-geun met with his Saudi counterpart, Majid bin [...]
SEOUL, May 1 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical company, said Wednesday it will build its first overseas water-desalination device plant in Saudi Arabia by 2026 under a joint project with a local company. LG Chem has partnered with Alkhorayef Group, a leading Saudi Arabian conglomerate specializing in water, energy and [...]
SEOUL, Apr. 3 (Korea Bizwire) — Samsung E&A Co. and GS Engineering & Construction Corp. (GS E&C) have won a combined US$7.2 billion deal to expand a gas plant in Saudi Arabia, the biggest order for South Korean companies in the Middle Eastern country, the presidential office said Wednesday. The Fadhili Gas Increment Program is [...]
UIJONGBU, Mar. 11 (Korea Bizwire) – In a testament to courage and endurance, a firefighter from the Namyangju Fire Station in South Korea’s Gyeonggi Province has secured a gold medal at an international competition that tests the physical limits of firefighters worldwide. The event, known for its grueling challenges, was held in Dhahran, Saudi Arabia. The [...]