#Saudi #SouthKorea #security – Norma, a South Korea-based IoT security company, has signed an MoU with Riyadh-headquartered security solutions integrator ITB Belt to export its Post Quantum Cryptography (PQC)-based security solution, Q Care. The $2 million deal marks Norma’s first export to the Middle East and could see Q Care deployed in Saudi Arabia’s first cognitive city Neom.
SO WHAT? – The deal represents a milestone for little-known Norma, opening doors to the Middle East’s growing IT and cybersecurity market. Saudi Arabia’s ambitious Neom project could present the opportunity of a high-profile showcase for Norma’s cutting-edge technology internationally, positioning the company for potential regional and global expansion.
Here are some key points about the Norma-ITB deal:
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South Korea-based IoT security company Norma signed an MoU with ITB Belt, a Riyadh-based IT and OT infrastructure leader, to export its Q Care IoT security solutions. The $2 million deal is Norma’s first in the Middle East.
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The Q Care series leverages Post Quantum Cryptography (PQC), a cutting-edge technology designed to withstand quantum computing threats.
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ITB plans to integrate Q Care solutions into projects for Saudi Arabia’s Neom City, a futuristic maga-city on the Red Sea coast.
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Norma has a robust track record in quantum security, providing consulting services to domestic and international firms.
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By collaborating with regional partners, Norma aims to strengthen its foothold in global cybersecurity markets.
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Founded in 2008, ITB specialises in IT consulting, infrastructure, and security solutions for enterprise clients across the Middle East.
ZOOM OUT – The Norma-ITB deal follows a series of successes from South Korean companies trying to enter the Saudi Arabia market. Last year NAVER Corp. was awarded contract valued at $100 million to build and operate digital twins for five Saudi cities, while earlier this year a leading Korean cybersecurity company, AhnLab, established a joint venture with PIF-backed cybersecurity and cloud service company Saudi Information Technology Company (SITE). South Korea’s technology sector has been championed by an increasing number of government missions to Saudi Arabia over the past few years, lead by multiple South Korean ministers and an official visit of South Korean President Yoon Suk Yeol last year.
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