SEOUL, June 8 (Korea Bizwire) — South Korea’s top internet portal operator, Naver Corp., said Tuesday that it has invested 40 billion won (US$36 million) in a total of 70 startups — mostly early-stage tech firms under its accelerator scheme that started in 2015. The investment was made over the past six years since the [...]
SEOUL, June 7 (Korea Bizwire) — Violations of the Labor Standards Act, including overtime work exceeding the statutory working hours, are rampant at Naver Corp., a recent survey showed. The South Korean search giant’s labor union recently conducted a survey with of members belonging to the firm’s three CIC (Company in Company) units. The results [...]
SEOUL, June 7 (Korea Bizwire) — South Korea’s top court has ruled in favor of residents living near a Naver Corp.’s main office building who filed a suit for compensation claiming that they suffered from the light reflected on the glass exterior surface of the building. The ruling made it possible to sue for prevention [...]
SEOUL, June 1 (Korea Bizwire) — Naver Corp. and Kakao Corp., the two major South Korean tech companies, have benefitted from the ‘pandemic boost’ and showed exponential growth over the past 12 months. Behind the scenes, however, these companies are struggling with criticism over unfair treatment of employees. Since early this year, the two companies [...]
SEOUL, May 25 (Korea Bizwire) — South Korea’s leading internet portal operator Naver Corp. on Tuesday unveiled its supersized artificial intelligence (AI) platform, dubbed “HyperCLOVA.” Naver said HyperCLOVA boasts the world’s top-level AI technology, developed based on a new super computer adopted by the tech giant last October. HyperCLOVA is equipped with over 204 billion [...]
SEOUL, April 29 (Korea Bizwire) — South Korea’s top internet portal operator, Naver Corp., said Thursday its net profit jumped 11,252.5 percent on-year during the first quarter due to accounting profits. Net profit reached 15.31 trillion won (US$13.8 billion) during the January-April period, compared with 134.9 billion won in the previous year, the company said [...]
SEOUL, April 27 (Korea Bizwire) — Naver Corp., South Korea’s dominant internet portal and search engine, said Tuesday it aims to lead the local web browser market with its own product named Whale in three years. Whale — a Chromium-based web browser released in October 2017 — is the fourth mostly used web browsing tool [...]
SEOUL, April 9 (Korea Bizwire) — South Korea’s leading portal operator Naver Corp., said Thursday that its financial arm Naver Financial Corp. will now transfer the full value of transactions conducted via its portal to Smartstore sellers the day after delivery, as part of the company’s ‘Quick Transaction’ policy. Smart Store is an online shopping [...]
SEOUL, April 7 (Korea Bizwire) — Naver Corp., South Korea’s top internet portal operator, said Wednesday it has made a strategic investment of US$150 million in Indonesian media giant Emtek to strengthen its foothold in the Southeast Asian market. Emtek operates broadcast channels, as well as the over-the-top service Vidio, overseeing media content production and [...]
SEOUL, March 16 (Korea Bizwire) — South Korea’s top portal operator Naver Corp. and retail giant Shinsegae Group said Tuesday they agreed to a share swap deal valued at 250 billion won (US$221 million) to strengthen their foothold in the highly competitive e-commerce sector. Under the agreement, Naver will buy 150 billion won worth of [...]