Wave Lifestyle Tech signs MOU with Saudi gov't to expand robot business

This is the first time that a South Korean robot company has signed an MOU with the Saudi Arabian government agency

Lee Young, the minister of SMEs and Startups of S.Korea (from left) and Khalid Al-Falih, the minister of investment of Saudi Arabia (fourth)
Lee Young, the minister of SMEs and Startups of S.Korea (from left) and Khalid Al-Falih, the minister of investment of Saudi Arabia (fourth)
See-Eun Lee 1
2023-03-21 13:33:27 see@hankyung.com
Korean startups

Wave Lifestyle Tech, a South Korean foodtech robot company, said on Monday that it has signed a memorandum of understanding with Saudi Arabia’s Ministry of Investment to collaborate on expanding its robot business in the kingdom and the Middle East region.

The company said it aims to provide robot services in various sectors, starting with the food industry, as part of Saudi Arabia’s digital transformation efforts. The ministry will support Wave’s joint ventures and investment opportunities in the region.

This is the first time that a South Korean robot company has signed an MOU with the Saudi ministry. Wave also showcased its robot technology at Vivan 2023, Saudi Arabia’s largest startup event, where it met with officials from both countries.

Wave’s CEO Kim Bum-jin said that his company plans to introduce robots to various fields in Neom City, a futuristic megacity project that includes The Line, a linear urban development. He said that Wave will be a pioneer in bringing robots to Saudi smart cities through the MOU.

Write to See-Eun Lee at see@hankyung.com
#korea wave lifestyle tech #wavelifestyletech saudi arabia #waver robot saudi arabia

Nongshim lands deal to export smart farms to Saudi Arabia

Nongshim lands deal to export smart farms to Saudi Arabia

South Korea's food and beverage giant Nongshim Co. will export smart farms to Saudi Arabia, following a similar deal with the United Arab Emirates (UAE) concluded in January.Nongshim on Monday said it signed a memorandum of understanding in Saudi Arabia on the day before to export smart farms

H2O Hospitality signs MOU with Ministry of Investment of Saudi Arabia

H2O Hospitality signs MOU with Ministry of Investment of Saudi Arabia

H2O Hospitality CEO John Lee (from left), Korean Minister of SMEs and Startups Lee Young, Saudi Arabian Minister of Investment Khalid A. Al-Falih and Saudi Arabian Ministry of Investment Chief Legal Counsel Anwaar M. Alshammari  H2O Hospitality Ltd., a South Korean company specializing in

Korea United Pharm signs contract to supply medicines to Saudi Arabia

Korea United Pharm signs contract to supply medicines to Saudi Arabia

Korea United Pharm's Sejong 2 factory (Hankyung DB) Korea United Pharm. Inc. announced on Monday that it signed a contract to supply nine types of medicines, including 11 anticancer drugs, to Saudi pharmaceutical companies. The deal is worth $4.5 million and marks the company's effort to comply
(* comment hide *}