Latest news with #NaverCloud
CairoScene
17 hours ago
- Business
- CairoScene
Saudi's New Murabba to Build Smart District With Korea's Naver Cloud
South Korea's Naver Cloud will provide robotics, AI, and real-time tech for Saudi Arabia's New Murabba smart city, with construction already underway in central Riyadh. Saudi Arabia's New Murabba development has signed a three-year agreement with South Korea's Naver Cloud to bring smart infrastructure and AI-powered technologies to its planned city centre in Riyadh. The deal includes platforms for autonomous mobility, robotics, and real-time construction tracking. The New Murabba project spans 14 square kilometres and is designed to feature over 100,000 homes, 10,000 hotel rooms, education and health facilities, and The Mukaab - a large cubic mixed-use tower that forms the centrepiece of the site. Excavation has already begun, with more than 14 million cubic metres of earth removed so far. The Seoul signing was part of an international investment forum, where New Murabba met with developers, technology firms, and infrastructure providers. The company is also working with global partners including Bechtel, STC Group, and China Harbour Engineering. The development is expected to create over 300,000 jobs and play a central role in Riyadh's preparations for hosting Expo 2030 and the FIFA 2034 World Cup.
Korea Herald
a day ago
- Business
- Korea Herald
Saudi Vision 2030's smart city has S. Korea at its heart: NMDC CEO
Naver Cloud forms first Korean partnership with megasized smart city project to work on autonomous, smart technologies Saudi Arabia's capital is undergoing a massive urban transformation aimed at reshaping not only Riyadh, but the entire Middle East -- and the kingdom wants South Korea to be part of the initiative, according to the head of the state-owned developer leading the project. New Murabba Development Co., wholly owned by Saudi Arabia's Public Investment Fund, was established to build the world's largest modern downtown in Riyadh as part of Crown Prince Mohammed bin Salman's Vision 2030 initiative. Michael Dyke, CEO of NMDC, said Korea is emerging as a key partner for the project, citing the country's advanced technology and strong cultural ties with Saudi Arabia. 'Korea's advantage is that it already has a history and track record of operating within the kingdom,' Dyke said in an interview with The Korea Herald on the sidelines of the New Murabba Investment and Partnership Forum on Monday in Seoul. He referred to the economic boom of the 1970s and '80s, when Korean construction companies were instrumental in developing Saudi Arabia's infrastructure. 'The relationships are long and strong, and partnerships with Saudi companies are already well established from within South Korea,' he added. Dyke pointed to three pillars of partnerships with Korea: industrial, technological and real estate. 'One thing I would emphasize is that because of the scale of New Murabba, there will be multiple partnerships required to cover all areas,' he noted. New Murabba, spanning 19 square kilometers in Riyadh, is envisioned as a megasized smart city. At its center will be the Mukaab, a 400-meter-tall cuboid skyscraper that will house residences, retail, hospitality, cultural and leisure facilities under a single dome. Set to be the largest structure by volume, the Mukaab will be spacious enough to fit 20 Empire State Buildings. Construction is already underway, with completion targeted for 2030. 'We're in the capital city of Riyadh, and New Murabba will become the downtown of the capital city of the Middle East. The Mukaab, where we will have the high-tech core, will be the beating heart of this downtown,' Dyke said. Regarding the integration of Korean culture into the project, Dyke responded with enthusiasm. 'The simple answer is yes. With 100 million annual visits projected for the Mukaab, and 35 percent of those being international visitors, we need familiarity in food, retail and entertainment,' he explained. Dyke highlighted that his interest in Seoul is rooted in how it 'pushes the boundaries of technology and redefines how entertainment and food and beverage experiences are created.' In the years ahead, as Saudi Arabia prepares to host Expo 2030 and the FIFA World Cup in 2034, Dyke is confident that New Murabba will be ready to welcome millions of visitors with its state-of-the-art stadiums and integrated transit connectivity. 'So we are designing our city to be smart from the very beginning, and that's where our collaboration with Naver comes in, helping us ensure the city is future-proof for generations to come, not just for the next five, 10 or 20 years.' Despite ongoing tensions in the Middle East, Dyke appeared unconcerned, calling it a fact of life in today's world of constant change. 'Clearly, some things have happened more recently in the Middle East, but I know that much of the region is back to normal,' he said. 'It remains business as usual." On the day of the forum, Naver Cloud signed a memorandum of understanding with New Murabba, becoming the project's first Korean partner. The agreement opens the door to future collaboration in areas such as robotics, autonomous driving and smart city platforms, according to NMDC. 'Mukaab is a very complex ecosystem and requires companies of scale to match its scale,' Dyke said, explaining that Naver's technological prowess and capacity align with their needs. New Murabba planned to explore future collaborations in Seoul through a two-day closed-door forum on Tuesday and Wednesday, where more than 500 participants, including company executives, investors and government officials, were to engage in discussions on investment and partnership opportunities under Saudi Arabia's Vision 2030. minmin@
Korea Herald
2 days ago
- Business
- Korea Herald
S. Korea at heart of Saudi Vision 2030's smart city project: NMDC CEO
Naver Cloud forms first Korean partnership with the mega smart city project to work on autonomous and smart technologies Under Saudi Arabia's Vision 2030, a massive urban development is underway in Riyadh that aims to transform not only the kingdom's capital but the entire Middle East, according to Michael Dyke, CEO of New Murabba Development Company, a wholly owned subsidiary of Saudi Arabia's Public Investment Fund. South Korea is emerging as a key partner for the New Murabba project, leveraging its advanced technology and strong cultural ties to Saudi Arabia. 'Korea's advantage is that it already has a history and track record of operating within the kingdom,' Dyke said in an interview with The Korea Herald on the sidelines of the New Murabba Investment and Partnership Forum held Monday in Seoul. He referred to the economic boom of the 1970s and 1980s, when Korean construction companies were instrumental in developing Saudi Arabia's infrastructure. 'The relationships are long and strong, and partnerships with Saudi companies are already well established from within South Korea,' he added. Dyke pointed to three pillars of partnerships with Korea: industrial, technological and real estate. 'One thing I would emphasize is that because of the scale of New Murabba, there will be multiple partnerships required to cover all areas,' he noted. New Murabba, spanning 19 square kilometers in Riyadh, is envisioned as a mega-sized smart city. At its center will be the Mukaab, a 400-meter-tall cuboid skyscraper that will house residences, retail, hospitality, cultural and leisure facilities under a single dome. Set to be the largest structure by volume, the Mukaab will be spacious enough to fit 20 Empire State Buildings. Construction is already underway, with completion targeted for 2030. 'We're in the capital city of Riyadh, and New Murabba will become the downtown of the capital city of the Middle East. The Mukaab, where we will have the high-tech core, will be the beating heart of this downtown,' Dyke said. Regarding the integration of Korean culture into the project, Dyke responded with enthusiasm. 'The simple answer is yes. With 100 million annual visits projected for the Mukaab, and 35 percent of those being international visitors, we need familiarity in food, retail and entertainment,' he quipped. He highlighted that his interest in Seoul is rooted in how it 'pushes the boundaries of technology and redefines how entertainment and food and beverage experiences are created.' In the years ahead, as Saudi Arabia prepares to host Expo 2030 and the FIFA World Cup in 2034, Dyke is confident that New Murabba will be ready to welcome millions of visitors with its state-of-the-art stadiums and integrated transit connectivity. 'So we are designing our city to be smart from the very beginning, and that's where our collaboration with Naver comes in, helping us ensure the city is future-proof for generations to come, not just for the next five, 10 or 20 years.' Despite ongoing tensions in the Middle East, Dyke appeared unconcerned, calling it a fact of life in today's world of constant change. 'Clearly, some things have happened more recently in the Middle East, but I know that much of the region is back to normal,' he said. 'It remains business as usual." On the day of the forum, Naver Cloud signed a memorandum of understanding with New Murabba, becoming the project's first Korean partner. The agreement opens the door to future collaboration in areas such as robotics, autonomous driving and smart city platforms, according to NMDC. 'Mukaab is a very complex ecosystem and requires companies of scale to match its scale,' Dyke said, explaining that Naver's technological prowess and capacity align with their needs. New Murabba plans to explore future collaborations in Seoul through a two-day closed-door forum on Tuesday and Wednesday, where more than 500 participants, including company executives, investors and government officials, engage in discussions on investment and partnership opportunities under Saudi Arabia's Vision 2030. minmin@
Zawya
2 days ago
- Business
- Zawya
New Murabba signs up Korean group Naver for mega Saudi project
New Murabba, a company of Saudi sovereign wealth fund PIF, has signed up South Korean tech giant Naver Cloud Corp for deployment of its innovative technology and automation at the 14-sq-km mixed-use urban destination development currently under construction in Riyadh, KSA. The agreement was signed by New Murabba CEO Michael Dyke, during the company's Investment and Partnership Forum, taking place this week in Seoul, South Korea. The three-year agreement covers exploring innovative technology and automation to support the delivery of New Murabba, including robotics, autonomous vehicles, a smart city platform, and digital solutions for monitoring construction progress. Speaking in Seoul, New Murabba CEO Michael Dyke, said: "New Murabba is playing a key role in turning KSA's Vision 2030 into a reality by helping to shape the future of Riyadh's real estate landscape. We are transforming Riyadh into a global hub for innovation and investment while setting new benchmarks for urban design and living." "Our partnership with NAVER Cloud Corp reinforces our commitment to collaborating with international investors and businesses who share our vision for New Murabba – and want to be part of Saudi Arabia's transformational future," he stated. Naver Cloud Corp CEO Kim Yu-won said: "It is highly meaningful that our diverse innovative technologies will be introduced and actively applied in New Murabba, which is set to become the benchmark and core infrastructure of a new future city. As a technology partner contributing to Saudi Arabia's future innovation, we will strive to create practical and innovative results." New Murabba's senior leadership team is in Seoul to build strategic relationships, explore technological offerings, assess financing options, and showcase many investment opportunities in transformational development, a key element of Vision 2030. The two-day, invitation-only forum includes deep-dive presentations on Vision 2030, New Murabba's master plan, investment and partnership opportunities, and discussions around tech and innovation. It is complemented by an exhibition including scale models and virtual reality features that showcase the development. More than 500 delegates are attending the event, including investors, developers, government officials, suppliers, construction firms, service providers, technology companies, and smart city solution providers. New Murabba also has partnerships with foreign entities such as AtkinsRealis, China Harbour Engineering Company, US-based Bechtel, STC Group in the Middle East, and key organizations in KSA, including the Tourism Development Fund and King Khalid Foundation. Set to create more than 300,000 new jobs, New Murabba integrates sustainable design, innovative infrastructure, and a future-ready lifestyle. At the heart of the project is the iconic, technological and cultural wonder, The Mukaab, a premium mixed-use destination with retail, cultural, tourism, hospitality, residential, commercial and recreational components. More than 14 million cu m of excavation, equivalent to the size of 5,400 Olympic swimming pools, have been completed for The Mukaab. Once complete, New Murabba will have more than 100,000 residential units, over 10,000 hotel room keys, schools, hospitals, and healthcare facilities. It will also have a host of sports and entertainment venues, including the iconic New Murabba stadium, which will accommodate 45,000 spectators, including football fans heading to Saudi Arabia for the FIFA 2034 World Cup. Michael Dyke said: "Riyadh is evolving into a world-class metropolis. New Murabba is at the forefront of this transformation, and key to the success of upcoming global events in KSA, including Riyadh Expo 2030 and the FIFA 2034 World Cup. We look forward to building new, meaningful partnerships here in Seoul today, and in the future." -TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. ( ABU DHABI
Korea Herald
3 days ago
- Business
- Korea Herald
Coupang's GPU bid signals new ambition
Coupang has made a surprise entry into a government-led bid to secure and operate high-performance graphics processing units, signaling potential ambitions beyond its current e-commerce focus. The e-commerce giant is among four companies — including Naver Cloud, Kakao Enterprise and NHN Cloud — that have submitted bids for the Ministry of Science and ICT's 1.46 trillion won ($1.07 billion) GPU infrastructure support project, according to industry sources Monday. Under the initiative, the government plans to purchase 10,000 high-performance GPUs through its first supplementary budget and provide GPU services to companies and researchers over five years. The final operator will be selected next month. While Coupang declined to comment on its participation, sources view the move as a strategic attempt to gain operational experience in GPU-as-a-service, potentially laying the groundwork for a future pivot into the cloud services market. "This marks Coupang's first known foray into a government tech infrastructure project of this scale,' said an industry source who requested anonymity. 'Although it has not publicly operated GPUaaS, its internal services like Coupang Play and Coupang Eats have long leveraged GPU resources, possibly helping it meet the eligibility requirements.' 'Coupang, emerging as a dark horse in the recent GPU acquisition initiative, may be strategically aiming to solidify its identity as a competitive cloud service provider through this move. … Otherwise, it's difficult to justify the company's participation in the project, especially considering the massive costs associated with data center space rentals,' the source added. The unexpected bid has drawn considerable attention, with speculation mounting that Coupang aims to evolve into a cloud service provider, much like Amazon's trajectory from e-commerce to dominance in Amazon Web Services. Industry watchers have observed that Coupang is stepping up its infrastructure push. The company is reportedly working with Singapore-based Empyrion DC to lease space at the KR1 data center in Seoul's Yangjae area, while accelerating talent acquisition in cloud and GPU operations. 'Coupang has consistently benchmarked Amazon's business model,' said a source familiar with the matter. 'It now appears to be eyeing the next frontier -- emulating AWS.' Despite the ambitions, skepticism remains. Unlike its competitors, Coupang lacks a track record of large-scale GPU service deployment. Naver Cloud, Kakao Enterprise and NHN Cloud already operate substantial GPU clusters and have established GPUaaS platforms. This could put Coupang at a disadvantage when it comes to technical evaluations. 'Coupang is not disqualified by regulation,' the anonymous source said. 'But its limited hands-on experience with GPU infrastructure could be a critical shortfall.' Stability remains a priority for the government's GPU project, the official added: 'The ability to quickly recover from system failures is key, and Coupang's capabilities in this area have yet to be publicly proven.' Industry observers are now watching to see whether Coupang can leverage this opportunity to transform into a next-generation cloud provider and challenge South Korea's established cloud service players. 'Coupang has been heavily investing in infrastructure talent,' another anonymous industry source said. 'If it can gain practical experience through a project of this scale, it could rapidly internalize GPU technology and accelerate its pivot into cloud computing.'
