Ate1 Strengthens Cooperation with Saudi State-Owned Defense Company SAMI on Simulation Training Systems and More

On the 17th, at the SAMI headquarters in Saudi Arabia, Aitwon CEO Jin-yeop Lee (third from the right) and Chairman Bruce Jung (first from the right) are taking a commemorative photo with SAMI officials. / Photo by Aitwon

KOSDAQ-listed company EightOne (CEO Jin-Yeop Lee) announced on the 21st that on the 17th, CEO Jin-Yeop Lee and a visiting delegation made a surprise visit to Saudi Arabian Military Industries (hereinafter SAMI), a Saudi Arabian state-owned defense company, to strengthen cooperation on CBT training systems and electric vehicle-related technologies.

SAMI is a state-owned defense company established in 2017 by the Public Investment Fund (PIF), Saudi Arabia's sovereign wealth fund, and is expanding investments in aviation systems such as unmanned aerial vehicles, military vehicles, ammunition and missiles, communication systems, and radar.

During a meeting with officials from the Saudi Ministry of Defense and SAMI, EightOne showcased its defense technologies, including electronic technical manuals and training simulators, and pledged active cooperation in future Saudi defense projects.

Additionally, based on EightOne's blockchain technology capabilities, cooperation will also include the Aramco blockchain project, the blockchain cluster development project, and the implementation of electric vehicle charging systems.

In particular, EightOne plans to promote business by installing electric vehicle showrooms within Saudi Arabia in collaboration with Saudi government officials and Global Hub. Currently, Saudi Arabia is actively promoting the adoption of electric vehicles at the government level, making the electric vehicle business a blue ocean opportunity.

This visit to SAMI by EightOne was made possible through the active efforts of Global Hub CEO Mohammad Kassab, Middle East Investment, and EightOne Chairman Bruce Jeong. The EightOne delegation plans to revisit Saudi Arabia in mid-next month to finalize specific cooperation models.

Bruce Jeong said, “The Saudi government is making massive investments to foster the defense industry and has great interest in Korean-made weapons. Introducing world-class Korean defense systems through this visit is very meaningful.”

He added, “We expect good cooperation results in the electric vehicle sector, which the Saudi government is actively promoting. We will continue to expand Korea-Saudi business through various business collaborations.”

This content was produced with the assistance of AI translation services.