In Simulation Training Systems, Other Areas
Aiitone, a company that specializes in the defense industry, is enhancing its cooperation with Saudi state-owned military companies.
Aiitone, a KOSDAQ-listed company, announced on Aug. 17 that a visiting delegation led by CEO Jin Yeop Lee made a surprise visit to Saudi Arabian Military Industries (referred to as SAMI), a state-owned military company in Saudi Arabia. The purpose of the visit was to enhance cooperation on CBT training systems and technologies related to electric vehicles.
SAMI is a state-run military company established in 2017 by the Public Investment Fund (PIF), a Saudi sovereign wealth fund. It is currently expanding its investments in various aviation systems, including unmanned aerial vehicles, military vehicles, ammunition, missiles, communication systems, and radar.
Aiitone introduced its defense technology, including electronic technical manuals and training simulators, during a meeting with officials from Saudi Arabia’s Ministry of Defense and SAMI. The company also pledged to actively collaborate with Saudi defense projects in the future.
In addition, it was decided to include the Aramco blockchain project and the blockchain cluster creation project, as well as the implementation of an electric vehicle charging system, in future cooperation based on Aiitone's blockchain technology.
In particular, Aiitone plans to promote projects such as establishing an electric car showroom in Saudi Arabia in collaboration with Saudi government officials and global partners. Currently, Saudi Arabia is actively promoting the adoption of electric vehicles at the government level, and the electric vehicle industry is gaining attention as a blue ocean market opportunity.
Aiitone’s visit to SAMI was made possible as a result of active promotion by Mohamad Kasaab, CEO of Global Hub, and Bruce Jeong, Chairman of Middle East Investment and Aiitone. The Aiitone delegation plans to visit Saudi Arabia again in the middle of next month to finalize a specific cooperation model.
Bruce Jeong said, “The Saudi government is investing heavily to foster the defense industry, and there is great interest in Korean weapons.” In addition to this, he said, “It is very meaningful to introduce world-class Korean defense systems through this visit.”
He added, “We expect positive outcomes from collaboration in the electric vehicle industry, which the Saudi government is actively promoting,” and further stated, “We will continue to enhance the business partnership between Korea and Saudi Arabia through diverse cooperative efforts.” Middle East Investment and Bruce Jeong, the Chairman of Aiitone, played active roles in promoting the project. The Aiitone delegation plans to visit Saudi Arabia again in the middle of next month to finalize a specific cooperation model.
Bruce Jeong said, “The Saudi government is investing heavily to foster the defense industry, and there is significant interest in Korean weapons,” adding, “It is highly significant that this visit introduces Korea’s world-class defense system.”
He added, “We expect positive outcomes from collaboration in the electric vehicle industry, which the Saudi government is actively promoting,” and further stated, “We will continue to enhance the business partnership between Korea and Saudi Arabia through diverse forms of cooperation.”