South Korea's Naver establishes its first overseas investment corporation, Naver Ventures, in Silicon Valley

South Korean internet giant Naver has established its first overseas investment corporation, Naver Ventures, in Silicon Valley, USA.
On the 5th local time, Naver held a networking event called "
The company held a press conference titled "Venturing NAVER's Next Chapter" and announced the establishment of the new corporation. Until now, the company has operated an investment division within its parent company, but it is now looking to set up a specialized investment division overseas.
This is the first time that the company has established a base in the country. CEO Choi Suyeong said, "Under the second term of the Choi Suyeong administration, we are accelerating our global expansion and strengthening our AI competitiveness.
"We are establishing Naver Ventures to discover and invest in new companies in Silicon Valley, where many startups are located," he said.
About 200 people attended the meeting, including Chairman Lee Hae-jin, who is the founder and former chairman of Samsung Electronics, CEO Choi, Kim Nam-seong, head of the strategic investment division, and local venture capitalists.
Naver Ventures is expected to complete its establishment procedures within this month and begin investing in promising startups under the leadership of Kim Nam-seong, CEO of the strategic investment division.
The company hopes that this will enable it to grasp global technology trends and create the next driving force for growth through new technologies, human resources, and collaboration with partners.
Already, the video AI startup "Twelve Bravo" has attracted international attention.
Naver Ventures has decided to make its first investment in Samsung Electronics Labs, and has expanded into Silicon Valley.
The company plans to actively invest not only in Korean startups, but also in overseas startups in the local market.
"Silicon Valley is the cradle of technology and innovation, a place where talented people and new technologies gather," he said, referring to Silicon Valley as the first
He explained the reasons for choosing the city as an overseas investment base, saying, "At a time when startups are struggling to attract investment due to the uncertainty of the international situation, we want to create a place where they can receive stable investment and advance their technological development and business operations."
"Naver will continue to play a role in North America, following Korea, so that the AI era can be expanded," said Chairman Lee. "Diversity is important even in the AI era, and to achieve this, we need not only Naver, but also
It is essential to cooperate with diverse partners. By discovering and supporting talented startups and human resources and combining them with Naver's experience, we can grow together and build an AI era in which diversity coexists.
"We will continue to do so," he said.