Crown Prince Mohammed bin Salman’s NEOM City is no longer just a blueprint. As of 2026, the desert landscape is transforming into a massive construction site. This project represents the heart of Saudi Vision 2030. It aims to move the kingdom’s economy away from oil. Korean companies are playing a central role in this historic shift. They bring advanced technology and decades of experience to the desert.

Current Status of NEOM in 2026

The scale of NEOM remains breathtaking. It covers 26,500 square kilometers. Recent updates show a mix of rapid progress and strategic adjustments. The Saudi government is focusing on key areas to meet upcoming global deadlines.

The Line: From Vision to Reality

The Line is a vertical city designed for 9 million people. Construction is currently heavy on the “Hidden Marina” section. This 2.4-kilometer segment should be ready by 2030. Engineers have already installed over 4,500 foundation piles. Workers move nearly 1 million cubic meters of earth every week.

Shifting Priorities and Budgets

Saudi Arabia is managing its budget carefully in 2026. The government now prioritizes projects tied to big events. These include the 2029 Asian Winter Games in Trojena. They also include the 2034 FIFA World Cup. Some parts of NEOM have seen timeline shifts. However, the core vision of a carbon-free future remains strong.

Korean Giants Leading the Way

South Korea and Saudi Arabia have a long history of cooperation. Today, that bond is stronger than ever. “Team Korea” is winning major contracts across multiple sectors.

Construction and Energy Leaders

• Samsung C&T and Hyundai E&C: These giants are digging the massive tunnels for The Line. They also recently formed a joint venture for construction robotics. This will automate dangerous tasks and speed up building.
• HD Hyundai Electric: They secured a $51 million deal for power infrastructure. They are building the “Neom Mountain” substation. This will help run the city on 100% renewable energy.
• Daewoo E&C: They are actively seeking new infrastructure and harbor projects in the Oxagon region.

Smart Technology and Innovation

• Naver: The tech leader is creating a “Digital Twin” of Saudi cities. This virtual map allows planners to simulate disasters and traffic. It makes urban management much more efficient.
• KT and Hyundai E&C: They signed a 50-year deal for digital transformation. They will build data centers and the IT backbone for future smart cities.
• HanmiGlobal: This firm manages the complex schedules of The Line. They ensure that thousands of moving parts stay on track.

Why This Matters for Investors

NEOM is a massive playground for new technology. It acts as a global testbed for AI and green energy. Korean companies are not just building roads; they are exporting “Smart City” systems. This creates long-term revenue and proves Korean tech on a global stage.

Key Opportunities to Watch

1. Green Hydrogen: POSCO and other energy firms are exploring clean fuel production in the region.
2. Robotics: As labor costs rise, Korean robotics will become essential for desert construction.
3. Entertainment: Even SM Entertainment is looking at NEOM as a future cultural hub.

Looking Toward 2030 and Beyond

NEOM faces challenges like funding gaps and complex engineering. Yet, the momentum in 2026 shows that the project is moving forward. Korean companies are proving to be indispensable partners for the Crown Prince. Their success in Saudi Arabia will likely lead to more “Smart City” contracts worldwide.

Maebawi(The Rock)

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