Naver Sets Up US Investment Arm to Expand North American Startup Investment

Naver held a networking event titled 'Venturing NAVER’s Next Chapter' at the Four Seasons Hotel in Silicon Valley, USA, on the 5th (local time), demonstrating its strong commitment to global expansion and strengthening AI competitiveness. This event was organized ahead of the official launch of 'Naver Ventures,' an investment corporation to be established in Silicon Valley. Key executives, including Board Chairman Lee Hae-jin, Naver CEO Choi Soo-yeon, and Chief Strategy & Investment Officer Kim Nam-sun, attended and engaged in in-depth discussions with members of the local startup ecosystem. Naver Ventures, established to implement global expansion and strengthen AI technology, key strategies of CEO Choi Soo-yeon's second term, plans to lead the flow of the Silicon Valley technology hub by discovering and investing in competitive startups. With approximately 200 prominent Silicon Valley entrepreneurs, engineers, investors, and local Korean business people in attendance, CEO Choi Soo-yeon and Chairman Lee Hae-jin presented the background for Naver Ventures' establishment and its plans for contributing to the ecosystem. Chief Strategy & Investment Officer Kim Nam-sun hosted a panel discussion on AI with Twelve Labs CEO Lee Jae-sung and others, sharing insights. CEO Choi Soo-yeon emphasized, "Naver continues to invest where there are talent and technology, and Silicon Valley, the cradle of technology and innovation, is where capable talent and new technologies converge." She also stated that Naver would play a crucial role in North America, following Korea, in alleviating the difficulties startups face in securing investment amidst global uncertainties and supporting their technology development and business operations. Based on Naver's experience in growing startups, Chairman Lee Hae-jin emphasized, "Diversity is crucial in the AI era, and to achieve this, collaboration not only with Naver but also with a wider range of partners is essential." He expressed his commitment to investing in capable startups and talent, growing together in conjunction with Naver's experience, and creating an AI era where diversity coexists. Through Naver Ventures, Naver is expected to engage with startups of various nationalities and fields, capture global tech trends, and generate new growth momentum for Naver through synergy with new technologies, talent, and partners. Naver Ventures, which will complete its establishment procedures this month, will be led by Chief Strategy & Investment Officer Kim Nam-sun and has taken its first step by confirming 'Twelve Labs,' a globally recognized video AI startup, as its first investment.