When asked about the growing competition with YouTube and the company’s alleged loss of ad revenue, Han disputed the claim, as well as the rumor that Naver might branch out into the communications business. (Image: Yonhap)
SEOUL, Mar. 25 (Korea Bizwire) — South Korean web portal Naver has said it will focus on improving its video content amid growing competition with Google’s popular video service YouTube.
“Plans are underway to bolster video content for Junior Naver, such as kids’ videos, musical videos and how-to videos. We plan to invest more in videos this year,” said Han Seong-sook, the CEO of the web portal giant during a general meeting of stockholders.
When asked about the growing competition with YouTube and the company’s alleged loss of ad revenue, Han disputed the claim, as well as the rumor that Naver might branch out into the communications business.
The rumor comes following Naver’s move to categorize itself as a telecommunications operator after introducing a virtual assistant service that comes with a voice call feature. However, the claim has been branded as a ‘stretch’ in the industry.
In response to the questions about investment plans this year, Han said, “We plan on making investment in the artificial intelligence industry and in the European market, as well as securing talented staff in the AI field.”
Han said Naver has no plans to list its subsidiaries this year.
M.H.Lee (mhlee@koreabizwire.com)
