April 16, 2024
Stocks & Bonds
[EQUITIES] ‘Naver is 2nd largest stakeholder in YG Entertainment’
[THE INVESTOR] Naver has become the second-largest stakeholder in YG Entertainment by investing 100 billion won (US$89.04 million), said NH Investment and Securities on March 20, raising the target price to 950,00 won from 900,000 won.
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It will start music and video content production in earnest, said analyst An Jae-min. “In the short term, it will strengthen the content of V Live and videos for web dramas and web entertainment programs, and in mid- to long-term, expand its business concentrated in South Korea to overseas markets.”
The web portal behemoth is stepping into the second growth phase, focusing on the future business of artificial intelligence and self-driving, noted the analyst.
Naver is actively exploiting its 2 trillion won financial assets in securing new technologies and content, and its long-term growth strategies are constructive, said An, maintaining a “buy” recommendation and “most favorable” rating.
By Hwang You-mee (glamazon@heraldcorp.com)
