[PANGYO ISSUE] Pangyo Technovalley Weekly News, News from the fourth week of November

-Choi Soo-yeon and Kim Nam-sun to be appointed as CEO and CFO of Naver in March next year

Naver has shown up young leaders in their 40s at the front line of the business. What is common between Choi Soo-yeon the nominee for the CEO and Kim Nam-sun the nominee for the CFO is that they both can introduce a global perspective to the business. The decision reflects Naver’s management vision toward a global big tech company.  

Young leaders with a global mindset coming to the forefront

Naver nominated Choi Soo-yeon as next CEO and Kim Nam-sun as next CFO at the board meeting on the 17th. The two nominees have had careers in law and finance before joining Naver in November 2019 and August 2020 respectively.

Young leaders in their 40s would get to contribute to a long-standing CSO system (CEO, CFO, CCO, COO) centered around Lee Hae Jin, Global Investment Officer (GIO) as well as founder of Naver. This is comparable to an incidence where Kim Beom-su, Chairman of the Kakao Board of Directors appointed Rim Ji Hoon, then CEO of K Cube Ventures, as CEO of Kakao at age 35 (born in 1980) in August 2015. Its strategy is to speed up innovation efforts at home and abroad through young leaders with much experience on the global stage.

The two nominees are going to engage in global businesses in earnest through a “NAVER Transition TF”. And they are planning to pick up pace with building a new leadership and overhauling the organization. Naver said, “the two nominees would expand the business globally through engendering synergy effects among businesses by creating a system where major businesses can fulfill their social and legal responsibilities globally. They would take responsibility for creating a new business that has a growth potential in the global market through making investments in technology and human resources.”

-Kakao Enterprise Joined Forces with KOMSCO for ICT Sector

Kakao Enterprise will work with KOMSCO to identify new business opportunity in ICT sector.

The Kakao group’s affiliate announced on November 18th that it signed a business agreement for strategic business cooperation in ICT sector at a meeting room of KOMSCO’s Seoul office. The event was joined by major officials including Kakao Enterprise CEO Baek, Sang-yeop and KOMSCO President Ban, Jang-sik.

Both parties agreed to launch a council for identifying cooperative projects in ICT sector. The cooperation is to generate a strong synergy between the two by integrating Kakao Enterprise’s ICT and infrastructure with KOMSCO’s blockchain-based mobile certificate Chak and know-hows of public projects including that of mobile drivers’ license and other national digital IDs.

In addition, they plan to join forces in various areas including cloud service, blockchain, Metaverse and AI-based businesses such as AI chat-bot, AIot, where AI and IoT are integrated.

KOMSCO President Ban, Jang-sik said, “We expect a positive synergy for the both organizations based on technologies and service operation know-hows of South Korea’s leading IT platform provider Kakao Enterprise; and KOMSCO’s strength in security technologies and experience of credibility-based public project.” He added, “The collaboration will propel the advancement of South Korea’s ICT industry and become a model of public-private partnership.”

Kakao Enterprise CEO Baek, Sang-yeop said, “We will promote the advancement of promising projects by integrating various programs of KOMSCO with digital technologies”. He added, “We will speed up the digital transformation and contribute to finding of various new businesses in security and authentication sectors.”

-Gyeonggi content agency to release 24 promising companies on Gyeonggi START Pangyo Demo Day

yeonggi Culture Creation Hub run by Gyeonggi content agency would host “Gyeonggi START Pangyo Final Demo Day” on the 18th and 25th.

Demo Day refers to an event where a startup attracts investments by disclosing its prototype or business models to investors.

The Demo Day would be held as part of “Gyeonggi START Pangyo Acceleration Program,” a public-private partnership content start-up development project.

The Gold Ark x Spark Lab Consortium, a professional start-up planner (accelerator), and The Next Lab x Startup Research Consortium will be organized on the 18th and 25th, respectively to host the event.

In addition, investment experts from Douzone Holdings and Eugene Investment & Securities will attend according to the schedule to promote investments in fledgling companies (start-ups).

This year’s Demo Day will be broadcast online minimizing the scale of offline event in order to prevent the spread of COVID-19. Anyone interested in major investors and start-ups can watch it on the YouTube channel, “Gyeonggi Culture Creation Hub”.

An official from Gyeonggi content agency said, “The business environment of startups is deteriorating due to changes in the external environment such as COVID-19,” adding, “We will continue to promote partnership-based programs with private investors to strengthen the competitiveness of startups in Gyeonggi Province and attract investment.”

-NHN’s Singles’ Day Turnover Surpassed 58 billion won

NHN’s e-commerce business in China marked the historic turnover during Singles’ Day, the largest online shopping festival of China.

The NHN’s affiliate, NHN Accommate announced on November 18th that its turnover for this year’s Singles’ Day marked 315 million Chinese yuan which is the highest in the company’s history up 24% from last year’s figure of 255 million Chinese yuan.

The company’s diversified live-commerce channels led to the record. NHN Accommate capitalized on diverse sales channels including a short-video platform TikTok (Douyin), Kuaishou (a shot-clip platform) and Mogujie (an e-commerce platform) during this year’s multi-day extravaganza.

NHN announced, “NHN Accommate saw the significant turnover based on diversified live-commerce channels and various promotion programs.” The company added, “The sales was boosted by over 60 rounds of live broadcast promotions with some of the most popular influencers in China such as Viya, Austin Li, Cherie, Xinba; and more than 900 hours of promotional streaming events of each store.”

NHN Accommate CEO Lee, Yoon-shick said, “Tmall has 903 global partners and we are a gold-grade TP. We are in the 9th place at the ranking of Tmall’s innovative global partner list. As such, we’ve recorded a significant growth in China.” He added, “We’re planned to expand our business area as a B2B products distributor in Chinese commerce market by leveraging on the accumulated know-hows of brand management.”

Meanwhile, Singles’ Day is the largest online shopping festival in China where most of the Chinese online shopping malls including TaoBao participate. The scale of the event is almost that of Black Friday, the largest shopping season in the U.S.

Source: Pangyo Techno Valley Official Newsroom