Newsnomics AJAY ANGELINA reporter |
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), said the sources on Tuesday.
The deal valued at around $100 million according to the presidential office while Naver did not specify the contract’s size.
The Digital Twin technology mirrors real-world entities in a virtual environment, aiding in real-time decision-making via data analysis, prediction, and optimization as per Korea Economics daily .
The platform is set to be cloud-based, focusing on 3D digital modeling plays a pivotal role in building smart cities, underscoring the importance of the project.
This progress marks Naver's debut in the Middle East, targeting major cities like Riyadh and Mecca for the fiveyears span project.
Saudi Arabia is visualizing to use this platform for the urban planning and flood predictions.
A key aspect is that the Korean IT titan will initialize and manage the nation's public digital services, directly impacting its citizens.
Naver's ambitious road map 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.
According to the sources, the partnerships have been inked with Korea Land and Geospatial Informatix Corporation (LX) and Korea Water Resources Corporation in support of the platform's creation.
