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South Korea’s NAVER Corp. is making waves in the tech world with the launch of NAVER Ventures, its new global investment arm based in Silicon Valley. This initiative aims to support early-stage startups in North America and turbocharge the company’s global…
Naver, the South Korean search giant, announced it plans to acquire secondhand apparel marketplace Poshmark for $1.2 billion in cash. The deal values publicly traded Poshmark’s shares at $17.90 — a 15% premium over today’s closing price — and the companies…
South Korean online platform Naver has invested in Singaporean classified-ad service Carousell. The US$80 million investment was made by a consortium led by the firm that includes other Korean investment businesses Mirae Asset-Naver Asia Growth Fund and NH…
Global character brand Line Friends opened its second and largest official US store last Saturday. The new Los Angeles store on Hollywood Blvd, which offers interactive photo zones and signature character merchandise, attracted more than 18,000 visitors on…
Trends come and go in the retail world, but one which undoubtedly appears to be here to stay is the shift in how consumers now choose to pay for goods and services. Physical cash has played an important part in retail for decades, but a recent announcement…
Visa (NYSE: V), the global payments leader, and LINE Pay Corporation, operator of digital wallet and fintech services on the LINE messaging app, today announced a strategic partnership that will see them create new financial services experiences for their…
LG Electronics and portal operator Naver Wednesday agreed to jointly develop an advanced guidance robot based on the high-tech mobility platform. LG Electronics and Naver’s R&D subsidiary signed a memorandum of understanding (MOU) to collaborate on research…
Local IT giant Naver announced plans Thursday to make its Naver TV service an open platform where anybody can freely upload videos, pitting it in direct competition with YouTube. The company said it would apply the change during this year’s first half.…
Naver said Monday that it has no plans to launch an internet-only bank, shutting down rumors that the IT giant might open the country’s third such bank after K bank and Kakao Bank. “Although we have reviewed [joining] the internet-only bank business, we…
LG Electronics and Naver are cooperating on the development of robotic capabilities. Their first project will use Naver’s mapping and navigation technology to improve the functionality of LG’s CLOi GuideBot. LG’s guiding robot is currently in operation at…
Naver Labs and Qualcomm will work together on future technology like robotics and self-driving vehicles, the local IT company said on Tuesday. The two companies signed an agreement on Monday to combine their knowledge and expertise. U.S.-based Qualcomm is a…
Naver’s iconic green search bar may one day be a thing of the past – at least in the mobile app. Korea’s most popular portal site is experimenting with a new tool called the Green Dot that allows users to search for information not only by text, but also by…
From indoor navigation using augmented reality to ultra-high definition mapping technology for autonomous driving, South Korean internet giant Naver is developing a range of location-tracking technologies it believes will form the backbone of new offline…
South Korean mobile messaging platform Kakao is spinning off its e-commerce unit for further expansion. The new organisation will be Kakao’s largest spin-off, worth about KRW510.3 billion (US$458.6 million) by December. It will take over the operation of the…
Naver is contributing 99 billion won ($88 million) to a 100 billion won venture capital fund devoted to fostering and investing in start-ups, the top internet portal announced Tuesday. The fund is being launched by TBT, a venture capital firm founded by Lee…
Naver, Korea’s dominant internet portal and search engine, said Thursday it will invest 258.9 billion won ($230.8 million) in its wholly-owned affiliate in France to strengthen its presence in Europe. Naver will acquire 2 million new shares issued by Naver…
