Naver invests US$13 mln in Japanese content platform Note

SEOUL, Nov. 5 (Yonhap) -- Naver Corp., South Korea's largest internet portal operator, said Wednesday it has invested 2 billion yen (US$13 million) in Japanese content platform Note as part of its broader strategy to strengthen artificial intelligence (AI) competitiveness.

With the investment, Naver secured a 7.9 percent stake in the Japanese company, becoming its second-largest shareholder, according to the company.

Note is a popular Japanese platform that allows creators to publish and share text, images and videos, with more than 10 million members.

Naver said the two companies plan to combine Note's content ecosystem with Naver's service expertise and technological capabilities, and expand collaboration in various areas to enhance their platforms and AI technologies.

"Note is a partner that can grow alongside Naver in the AI era, where the value of content becomes increasingly important," Choi Soo-yeon, chief executive officer (CEO) of Naver, said.

"Based on the synergy between our platforms and content, we will advance technological sophistication, discover new services and enhance our global competitiveness," she added.

brk@yna.co.kr
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