Naver targets 1 bln users, 15 tln won in sales within 5 years

SEOUL-- Naver Corp., South Korea's leading online portal operator, is targeting to achieve 1 billion users and 15 trillion won (US$12 billion) in sales within five years by strengthening its global businesses, its new chief executive said Wednesday.

To achieve the goals, Naver plans to make a presence in global markets by introducing its internet search, e-commerce, entertainment, "techfin" and cloud services to Japan, North America and Europe, the company's CEO Choi Soo-yeon said in an online press conference.

Naver currently has 300 million users globally and reported sales of 6.8 trillion won last year.

Naver will initially focus on the Japanese market by introducing its cloud platform Naver Works and Naver Clova artificial intelligence services to local small- and medium-sized enterprises, Choi said.

In the North American markets, the company said it will promote Korean webtoons and other contents amid K-culture boom.

In addition, Naver said it will increase investments in game, metaverse and virtual reality sectors to generate a new "global business ecosystem," while exploring M&A opportunities.

Source: Yonhap News Agency

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