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Naver Corp

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NAVER Corp. Market Research Report



Company Overview



  • Name: NAVER Corporation

  • Mission: NAVER connects the world's possibilities through technology and services, helping users and business partners realize future growth.

  • Founded: June 1999

  • Founders: No specific founders mentioned

  • Key People:

  • Choi Soo-yeon (President & CEO)

  • Byun Dae-gyu (Chairman of the Board)

  • Headquarters: NAVER 1784, 95 Jeongjail-ro, Bundang-gu, Seongnam-si, Gyeonggi Province, South Korea

  • Number of Employees: 4,341 (as of 2023, excluding affiliates)

  • Revenue: KRW 9.6 trillion (as of 2023)

  • Specialization: Known for search technology, online advertising, commerce, content, cloud, and fintech services.


Products



Key Services and Technologies



1. NAVER Search:
  • Description: Korea's largest search platform, responsible for 40 million daily searches.

  • Key Features:

  • AI Personalized Search (AiRSEARCH)

  • Generative AI search service ("Cue:")

  • Multi-modal AI search (OmniSearch)


2. NAVER Ad Platform:
  • Description: Turns over 54 million NAVER users into potential customers.

  • Key Features:

  • Search Ads

  • Performance Display Ads

  • Guaranteed Display Ads

  • NAVER Family Ads


3. NAVER Shopping:
  • Description: Leading commerce platform in Korea.

  • Key Features:

  • AI recommendation technology

  • NFA (NAVER Fulfillment Alliance)

  • NAVER Shopping Live (live commerce platform)

  • NAVER Fashion Town

  • NAVER Grocery


4. NAVER Cloud Platform:
  • Description: Foundational IT technology for business success.

  • Key Features:

  • Neurocloud (enterprise-tailored hybrid cloud)

  • NAVER WORKS (global collaboration tool)

  • Papago (AI translation service)


5. NAVER Fintech:
  • Description: Comprehensive financial platform.

  • Key Features:

  • NAVER Pay (smart mobile payments)

  • Financial services for SMEs


6. NAVER Content:
  • Description: Creative platform for spreading valuable content.

  • Key Features:

  • WEBTOON (Global No.1 storytech platform)

  • Series and SeriesOn (premium content services)

  • NOW. (video content service)

  • VIBE (music streaming service)


7. NAVER Community:
  • Description: Connects users sharing common interests.

  • Key Features:

  • NAVER Blog, NAVER Cafe, NAVER Talk

  • NAVER Knowledge iN (Q&A service)


8. NAVER C2C:
  • Description: Global commerce platform.

  • Key Features:

  • Poshmark (global C2C fashion marketplace)

  • KREAM (limited edition trading platform)


9. NAVER Robotics:
  • Description: Aims for natural human-robot coexistence.

  • Key Features:

  • 5G brainless robots

  • Multi-Robot Intelligence System (ARC)

  • Human-robot interaction research


10. NAVER Digital Twin:
  • Description: Replicates real-world environments digitally.

  • Key Features:

  • Digital Twin Solutions (ALIKE)

  • High-precision mapping devices (M-Series, R-Series, T-Series)


Recent Developments



New Technologies and Services



1. HyperCLOVA X:
  • Launch Date: 2024.08.22

  • Description: Focused on image and speech processing technology, advancing to "Multimodal Generative AI".


2. NAVER Pay 'Real Estate VR Tour':
  • Launch Date: 2024.08.20

  • Description: Incorporates digital twin technology, enabling virtual tours of real estate.


Major Partnerships



1. Collaboration with Saudi Arabia:
  • Details: Providing digital twin technology adopted by Saudi Arabia.

  • Goals: Enhancing smart city and digital infrastructure.


Key Financial Metrics



  • Q2 2024 Revenue: KRW 2.6105 trillion

  • Q2 2024 Operating Profit: KRW 472.7 billion


Governance and ESG Initiatives



1. ESG Management:
  • Goals: Sustainable growth through environmental, social, and governance-oriented practices.

  • Key Metrics: Reduction in greenhouse gas emissions by 60% by 2030, aiming for net-zero emissions by 2040.


2. Corporate Governance Improvements:
  • Actions: Adjustments in Board of Directors and Audit Committee composition to enhance shareholder value and governance structure.


Cultural and Work Environment



1. Connected Work:
  • Description: NAVER's unique work culture driven by trust and autonomy.


2. NAVER 1784:
  • Details: Advanced headquarters serving as a "Tech Convergence Building".


Conclusion



NAVER Corp. continues to innovate across various technology sectors while emphasizing sustainable management and advanced employee culture. Their cutting-edge technologies and strategic partnerships will likely play a significant role in shaping future growth and global impact.