Korean AI consortium forges ties with Aramco for business opportunities
Joh Joon-hee, chairman of the Korea AI and Software Industry Association, front left, Second Vice Science Minister Ryu Je-myung, back left, Aramco Digital CEO Nabil Al-Nuaim, back right, and Mohammed Makhdoum, president of digital services at Aramco Digital, pose for a photo during an MOU signing ceremony in Dammam, Saudi Arabia, Feb. 1. Courtesy of the Ministry of Science and ICT
A Korean artificial intelligence (AI) consortium has inked a tentative agreement with Saudi Arabia-based Aramco Digital to seek joint business opportunities in the sector, the science ministry said Monday.
The memorandum of understanding was signed between the consortium consisting of seven companies, including Rebellions Inc., FuriosaAI, Upstage Co. and LG AI Research, and Aramco Digital in Dammam, Saudi Arabia, on Sunday (Saudi time).
The partnership centers on utilizing Korea's full-stack AI technologies to identify potential applications in the Middle Eastern nation, according to the ministry.
Aramco Digital is an affiliate of Saudi Aramco, the world's largest energy company, and is currently taking a leading role in the Middle Eastern nation's AI transformation, the ministry said.
"The cooperation will expand opportunities for Korean firms to participate in AI adoption and utilization projects in Saudi Arabia's energy and manufacturing industries," it added.