Tuesday, 16 July 2024

Towards strengthening the Saudi-Korean vision

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On November 17, 2022, on the sidelines of the visit of His Highness Prince Mohammed bin Salman to Korea last November, Atqan Holding worked to establish a consortium aimed at forming and structuring Korean companies in the Kingdom, especially the companies participating in the NEOM city project.
A Saudi-Korean consortium was formed with more than ten leading Korean companies in finance and technology as partners in economic development.
This would benefit from the technological progress of Korean companies, therefore, such an advanced level of technology is considered one of the most important areas required in government projects.
Where this economic alliance was strengthened to start entering the Kingdom in an economic partnership with Meta.N company.
Meta.N company is one of the leading companies in the business of artificial intelligence and next-generation technology in Korea, especially in blockchain technology.
In addition to Meta.N’s specialization in artificial intelligence and the use of next-generation blockchain technology, the company is an expert in creating a digital currency that can be implemented in smart cities, specifically in Saudi Arabia.
And where the company has the ability to create an exclusive payment currency system for the city of NEOM based on the digital currency, that is, according to the directions of the NEOM project. The payment coin project dedicated to “Meta.N” includes a plan to build a local stable coin.
In addition to the aforementioned, Meta.N is able to design future technologies around the integration of the GotG platform and provide escrow (insurance) solutions specialized in the digital asset market with the NEOM city project, and reach a secure use of blockchain technology in NEOM city after further discussions in this regard.
Atqan Holding Company, the Saudi partner of Meta.N, commented that: “Neum City is able to invest in development projects in order to establish joint ventures through proposals that contribute to achieving the vision of NEOM City and the Kingdom’s Vision 2030.”
This came to support what the city of NEOM in Saudi Arabia is seeking towards digital twinning. So we can probably expect a lot for Meta.N in NEOM.
It should be noted that is a strategy of Atqan Holding company to work to strengthen this union with global blockchain companies, including the Meta.N company, as global blockchain companies will participate in the strategies for developing the great and innovative city of NEOM.
In addition, Atqan Holding company plans to invest in Meta.N in the Kingdom with approximately One Billion Saudi Riyals (about 400 billion won), to provide financial support to Korean companies operating in Saudi Arabia and obtaining projects related to technology and real estate development gained from government entities in the Kingdom of Saudi Arabia.

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