SEOUL, Jan. 12 (Korea Bizwire) – South Korea’s largest Internet portal Naver Corp. is forecast to have raked in nearly 3 trillion won (US$2.53 billion) in revenue generated from advertisements last year, industry sources said Thursday. Naver is estimated to have logged 2.95 trillion won in sales from the advertisement sector in 2016, nearly a [...]
SEOUL, Jan. 4 (Korea Biziwre) – Korean Internet giant Naver announced Tuesday that its video-sharing app Snow surpassed the 100-million mark in total downloads, setting a new milestone for the app, which has seen rapid growth in popularity in East Asian and Southeast Asian markets. Snow was launched in September 2015, and according to Naver, [...]
SEOUL, Nov. 14 (Korea Bizwire) – South Korea’s top Internet portal operator Naver Corp. said Monday that it will join hands with venture capital firms to launch an investment fund worth 50 billion won (US$42.7 million) to nurture the growth of local content services. Naver will invest 40 billion won into the so-called “SB Next [...]
SEOUL, Nov. 7 (Korea Bizwire) – Big data is expected to help drive the growth of next-generation technological developments, including artificial intelligence and self-driving cars, Naver Corp. officials said Monday. The term “big data” generally refers to the use of analytics by extracting value from data sets for business or research purposes as online databases [...]
SEOUL, Oct. 28 (Korea Bizwire) – A recent report has revealed that investigative authorities peeked into online communications information of over one million citizens in 2015 from Korea’s two major web portals – Naver and Daum. According to the 2016 Internet Transparency Report from the Clinical Legal Education Center (Korea University), the two Internet giants [...]
SEOUL, Oct. 24 (Korea Bizwire) – The founder of Naver Corp. said Monday the nation’s biggest Internet portal will accelerate its investment in high-tech startups, signaling the need to increase spending on artificial intelligence. Lee Hae-jin, who is also the chairman of the board at Naver, made the remarks at a conference with developers. “From [...]
SEOUL, Oct. 14 (Korea Bizwire) – Science, ICT and Future Planning Minister Choi Yang-hee said Friday that it would be right to regulate the country’s No. 1 Internet portal operator Naver Corp. if it is found to have engaged in any unfair practice against media outlets. “I think it would be right to regulate (Naver) [...]
SEOUL, Sept. 29 (Korea Bizwire) – Naver Corp., South Korea’s largest Internet portal, and its mobile messaging affiliate Line Corp. said Thursday they will invest 100 million euros (US$112.2 million) into a French venture fund set up by France’s first South Korean-born minister, Fleur Pellerin. Naver and Line will invest 50 million euros each into [...]
SEOUL, Aug. 4 (Korea Bizwire) – Silicon Valley is well known for fighting against government surveillance to protect its users. But what steps are Korean IT companies taking to safeguard their customers? Naver and Daum are Korea’s leading web portals, claiming approximately 75 percent and 15 percent the market, respectively, while Kakao is Korea’s dominant [...]
SEOUL, July 8 (Korea Bizwire) – Naver, Korea’s leading web portal, decided to discontinue its latest translation service, Chamyeo-Bonyeok Q (‘Participate, Translate Q’), after facing criticism that the new platform was very similar to an existing translation service offered by a start-up company, Flitto. Chamyeo-Bonyeok Q was launched less than a month ago (June 17) with [...]