Naver has reorganized its organizational structure. The founder, Lee Hae-jin, head of global investm..

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Naver has reorganized its organizational structure. The founder, Lee Hae-jin, head of global investment (GIO), returned to the board of directors, and Soo Yeon Choi’s CEO succeeded in serving a second term. It has decided to make all-out efforts to take the lead in the global tech market by increasing the competitiveness of generative artificial intelligence (AI).

Naver held a general shareholders’ meeting at Naver Green Factory in Seongnam, Gyeonggi Province on the 26th and passed all major agendas proposed, including the appointment of GIO’s executive director and CEO Choi’s re-election.

The GIO returned as chairman of the board of directors eight years after he resigned as chairman of the board of directors and registered directors in 2017, saying he would focus on overseas business in accordance with the Fair Trade Commission’s collective regulatory stance on large corporations. CEO Choi was recognized for achieving 10 trillion won in annual sales for the first time in the platform industry last year. The term of office is due in 2028.

In addition, Heechul Kim’s head of the Corporate Value Center was appointed as the chief financial officer (CFO). CFO Kim Nam-sun will become the head of the strategic investment division. In fact, it takes over the role of GIO. The new strategic business division will be overseen by the head of Seon Ju Chae’s foreign and ESG policies.

This GIO and CEO Choi are challenging Big Tech, which has strong capital and technology. Naver ambitiously unveiled its Generative AI model “HyperClova X,” which was unveiled in August 2023, but it was pointed out that its performance was lower than that of AI models introduced by big tech companies. This GIO plans to foster Sovereign AI to protect the characteristics of search engines and data sovereignty that reflect regional and cultural values.

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CEO Choi announced the ‘AI Agent Strategy’ on the same day. The plan is to evolve from a strategy that connects Naver’s AI source technology to various business portfolios to an AI agent that understands users’ intentions and performs various tasks on its own.

The plan is to apply precisely targeted AI to various services operated by Naver, such as search, advertisement, commerce, and maps, so that users can feel AI in their daily lives from search to experience. To this end, it recently launched the ‘Naver Plus Store’ application to provide an ultra-personalized AI shopping experience.

In addition, the AI search service ‘AI Briefing’ will be released on the 27th. AI briefings are characterized by more intuitive answers than ‘Cue:’ which was introduced as a Generative AI search service. It presents the summarized and summarized search results in the query requested by the user and clearly indicates the source.

“We are preparing a cooperative model with Big Tech, but I think it is very sad that the world uses one or two AIs,” said GIO. “In order for the diversity of the Internet to be preserved, there must be various services and a big search engine is important, but we need our own search engine in this world.”

“The key to Naver’s successful overcoming of the mobile environment, which began in the Internet era, was its passion to create the services that users need most and its fighting spirit in a different way from Big Tech,” he said. “The era of search is not over, but it is actually expanding and growing, so we will take the necessary position again.”

“Naver is a company that has endured for 25 years against big tech,” he said. “I think it is Naver’s mission to become a company that contributes to the diversity of the Internet, and Naver’s basics in the AI era have not changed.”