April 27, 2024

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[THE INVESTOR] South Korean web portal operator Naver said on Dec. 19 that it would create a 100-billion-won fund with investment firm Mirae Asset Securities to invest in promising technologies such as autonomous cars, artificial intelligence, and the Internet of Things.

Each counterpart will chip in 50 billion won for the creation of the fund while the investment company will run the fund. 

Naver, the parent firm of mobile messenger Line, has been recently pouring resources in nurturing emerging technologies including AI-powered translation solutions.

The company has vowed to make 500 billion won of investment for the next five years to nurture multimedia content businesses. It participated in a funding round for French speaker developer Devialet last month together with global companies, including Foxconn and Renault-Nissan Alliance.

Lee Hae-jin, a co-founder and the outgoing board chairman of Naver, is currently staying in France and other parts of Europe to find promising startups and technologies.

By Kim Young-won (wone0102@heraldcorp.com)