Latest news with #LeeHae-jin
Korea Herald
a day ago
- Business
- Korea Herald
Naver readies new social platform ThingsBook for US market
As founder Lee Hae-jin returns to lead, Naver doubles down on US expansion with AI, user-centric platforms South Korean internet giant Naver is preparing to enter the crowded US social media market with a new platform, marking the company's boldest push yet into the world's most competitive digital market. The company said Monday it is developing the new user-generated content platform, named ThingsBook, through its US-based subsidiary But the date and the specifics are still under wraps. 'We are developing a platform targeting the US market, but the launch date and the specific details are undecided at this time,' a Naver spokesperson said. is spearheading the development of ThingsBook as part of Naver's efforts to create a service for the global market from the ground up instead of simply adapting popular Korean services for international users. Naver's Webtoon and Band were both launched in the US after achieving success in Korea. Dubbed a 'personal museum,' the new service will allow users to collect, organize and share content based on personal preferences. Naver has opened a LinkedIn page for ThingsBook, describing it as 'a new kind of social media made just for people who love organizing, collecting and sharing their favorite things, from books and movies to travel spots, fashion, food and more.' As it gears up for launch, Naver has begun recruiting brand ambassadors to help promote the platform, with content categories ranging from food and travel to books, games, movies and fashion. Naver's renewed global push follows the return of its founder Lee Hae-jin earlier this year. He was elected chair of the board at Naver in March, reclaiming a leadership role after an eight-year hiatus since stepping down in 2017. In June, Lee visited Silicon Valley and announced the establishment of Naver Ventures, a US-based investment arm. The new investment company aims to invest in AI startups and future technologies, highlighting Naver's ambitions in the US tech sector. With ThingsBook, Naver appears to be focusing on securing high-quality, localized data, which is critical in AI development. During a trip to the US last month, Lee cited user-generated content as a key factor that helped Naver compete against global tech giants like Google in the local search market. He also stressed that securing a wide range of data will be key to gaining an edge in the AI era. ThingsBook will add to Naver's growing portfolio in the US, which includes the Webtoon platform, operated by US subsidiary Webtoon Entertainment, Naver Band, a social media platform that has gained popularity among after-school activity groups, and Poshmark, a US fashion resale platform that was acquired by Naver in 2023.
The Star
08-06-2025
- Business
- The Star
Naver to establish US subsidiary for investment in local startups
SEOUL: South Korean tech giant Naver Corp. said Sunday (June 8) it will establish an investment-focused subsidiary in the United States to support promising local startups there. Naver plans to complete the process of launching the new entity, Naver Ventures, later this month in Silicon Valley, the company said in a press release. Naver Ventures has already selected Twelve Labs, a South Korean artificial intelligence (AI) startup with operations in the US, as its first investment target, the release said. Naver Ventures will be Naver's first overseas investment subsidiary, the company said. "Silicon Valley is a cradle of innovation where skilled professionals and cutting-edge technologies converge. That's why we chose it as the base for our first overseas investment firm," Naver CEO Choi Soo-yeon said. In light of global economic uncertainty, startups are finding it increasingly difficult to attract investment. Naver aims to help these companies secure stable funding and continue developing their technologies and operations in the US market, she said. Naver founder Lee Hae-jin (pic) said: "Diversity is increasingly important in the AI era. That's why collaborations with a broad range of partners are essential for Naver." - The Korea Herald/ANN
Malaysian Reserve
08-06-2025
- Business
- Malaysian Reserve
NAVER Expands Startup Investments in Silicon Valley with the Planned Establishment of NAVER Ventures
– Key executives, including Founder Lee Hae-jin and CEO Choi Soo-yeon, engage in discussions with the local startup ecosystem– The new investment initiative will focus on investing in promising startups in North America, starting with video AI startup 'TwelveLabs'– NAVER has a strong track record of tech startup investments through its NAVER D2SF and is also known for acquiring Poshmark SEONGNAM, South Korea, June 7, 2025 /PRNewswire/ — NAVER Corporation (CEO Choi Soo-yeon) announced the planned establishment of 'NAVER Ventures,' its new global venture investment initiative in Silicon Valley. The launch marks a significant step in NAVER's strategy to expand its global footprint and foster innovation by investing in promising startups in North America. NAVER Ventures aims to build on NAVER's experience in supporting startups through its NAVER D2SF, which has invested numerous early-stage technology startups and supported their overseas expansion. The company also expanded its global portfolio by acquiring Poshmark, a leading U.S.-based social commerce platform, in 2023. As part of its commitment to the Silicon Valley ecosystem, NAVER Founder and Chairman Lee Hae-jin, CEO Choi Soo-yeon, and Kim Namsun, President of investments visited the region to engage directly with entrepreneurs, engineers, and investors. They hosted the 'Venturing NAVER's Next Chapter' networking event on June 5 at the Four Seasons Hotel, where they discussed NAVER's vision for supporting startups and fostering technological innovation. NAVER Ventures has confirmed its first investment in TwelveLabs, a video AI startup recognized for its innovative technology. The investment aligns with NAVER's focus on AI competitiveness and its strategy to collaborate with global startups to drive future growth. The new investment initiative, NAVER Ventures, overseen by Kim Namsun, is expected to complete its establishment process later this month. It will invest capital and expertise to help category-leading companies accelerate the growth of their businesses (/END) About NAVER Founded in 1999, NAVER is South Korea's largest Internet company and one of the world's leading technology companies. NAVER has grown into a global ICT company that leads in cutting-edge technologies and operates a diverse portfolio of businesses, including commerce, fintech, content, cloud services, AI, and robotics, as well as other global online services such as LINE mobile messenger, Webtoon and Webnovel publishing, SNOW video camera app and ZEPETO metaverse platform. NAVER is expanding its global footprint through strategic partnerships with industry leaders such as SoftBank, Poshmark, and Wattpad. Currently, TEAM NAVER strengthens business portfolios and expands its service regions, including Japan, North America, and Europe. In 2024, NAVER reported sales of KRW 10.74 trillion (approximately USD 7.5 billion) and NAVER is ranked as the 12th largest company in terms of market capitalization in Korea. To learn more, visit
Korea Herald
08-06-2025
- Business
- Korea Herald
Naver to establish US subsidiary for investment in local startups
South Korean tech giant Naver Corp. said Sunday it will establish an investment-focused subsidiary in the United States to support promising local startups there. Naver plans to complete the process of launching the new entity, Naver Ventures, later this month in Silicon Valley, the company said in a press release. Naver Ventures has already selected Twelve Labs, a South Korean artificial intelligence (AI) startup with operations in the US, as its first investment target, the release said. Naver Ventures will be Naver's first overseas investment subsidiary, the company said. "Silicon Valley is a cradle of innovation where skilled professionals and cutting-edge technologies converge. That's why we chose it as the base for our first overseas investment firm," Naver CEO Choi Soo-yeon said. In light of global economic uncertainty, startups are finding it increasingly difficult to attract investment. Naver aims to help these companies secure stable funding and continue developing their technologies and operations in the US market, she said. Naver founder Lee Hae-jin said: "Diversity is increasingly important in the AI era. That's why collaborations with a broad range of partners are essential for Naver." (Yonhap)
Korea Herald
08-06-2025
- Business
- Korea Herald
NAVER Expands Startup Investments in Silicon Valley with the Planned Establishment of NAVER Ventures
- Key executives, including Founder Lee Hae-jin and CEO Choi Soo-yeon, engage in discussions with the local startup ecosystem - The new investment initiative will focus on investing in promising startups in North America, starting with video AI startup 'TwelveLabs' - NAVER has a strong track record of tech startup investments through its NAVER D2SF and is also known for acquiring Poshmark SEONGNAM, South Korea, June 8, 2025 /PRNewswire/ -- NAVER Corporation (CEO Choi Soo-yeon) announced the planned establishment of "NAVER Ventures," its new global venture investment initiative in Silicon Valley. The launch marks a significant step in NAVER's strategy to expand its global footprint and foster innovation by investing in promising startups in North America. NAVER Ventures aims to build on NAVER's experience in supporting startups through its NAVER D2SF, which has invested numerous early-stage technology startups and supported their overseas expansion. The company also expanded its global portfolio by acquiring Poshmark, a leading U.S.-based social commerce platform, in 2023. As part of its commitment to the Silicon Valley ecosystem, NAVER Founder and Chairman Lee Hae-jin, CEO Choi Soo-yeon, and Kim Namsun, President of investments visited the region to engage directly with entrepreneurs, engineers, and investors. They hosted the "Venturing NAVER's Next Chapter" networking event on June 5 at the Four Seasons Hotel, where they discussed NAVER's vision for supporting startups and fostering technological innovation. NAVER Ventures has confirmed its first investment in TwelveLabs, a video AI startup recognized for its innovative technology. The investment aligns with NAVER's focus on AI competitiveness and its strategy to collaborate with global startups to drive future growth. The new investment initiative, NAVER Ventures, overseen by Kim Namsun, is expected to complete its establishment process later this month. It will invest capital and expertise to help category-leading companies accelerate the growth of their businesses (/END) About NAVER Founded in 1999, NAVER is South Korea's largest Internet company and one of the world's leading technology companies. NAVER has grown into a global ICT company that leads in cutting-edge technologies and operates a diverse portfolio of businesses, including commerce, fintech, content, cloud services, AI, and robotics, as well as other global online services such as LINE mobile messenger, Webtoon and Webnovel publishing, SNOW video camera app and ZEPETO metaverse platform. NAVER is expanding its global footprint through strategic partnerships with industry leaders such as SoftBank, Poshmark, and Wattpad. Currently, TEAM NAVER strengthens business portfolios and expands its service regions, including Japan, North America, and Europe. In 2024, NAVER reported sales of KRW 10.74 trillion (approximately USD 7.5 billion) and NAVER is ranked as the 12th largest company in terms of market capitalization in Korea.
