8 stories mentioning KRX:035420
Every FINWIRES story that references KRX:035420, newest first.
Naver (KRX:035420) has an average rating of overweight and mean price target of 314,518.53 won, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
South Korean President Lee Jae Myung announced plans to use excess tax revenues from the semiconductor sector to fund new growth industries, Bloomberg News reported Monday, citing a press conference marking Lee's first anniversary as president.The goal is to reduce the country's long-term reliance on microchips and build global competitiveness across other technology sectors, the report said.Highlighting this economic shift, President Lee nominated Han Seong-sook, the current Minister of SMEs and Startups and former CEO of internet company Naver (KRX:035420), as the country's next Prime Minister, according to the report.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Naver (KRX:035420) plans to expand its artificial intelligence infrastructure using Nvidia's technology, starting with a 55-megawatt deployment at its GAK Sejong data center in South Korea, according to a Sunday press release.The company said it aims to scale the infrastructure to gigawatt capacity to support enterprises, industries, government agencies and AI cloud customers.Naver plans to deploy Nvidia's full-stack AI platforms, software and models to develop next-generation HyperCLOVA X models, AI agents and its Seoul World Model project, according to the statement.
Nvidia has signed a trio of technology partnerships with South Korean tech companies SK Hynix (KRX:000660), SK Telecom (KRX:017670) and Naver (KRX:035420), according to press releases from the US chip giant on Sunday.The partnerships position South Korea as a major hub for Nvidia's AI infrastructure.Under a new multiyear hardware agreement, Nvidia and SK Hynix will co-develop advanced memory for Nvidia's AI supercomputers, including its upcoming Vera Rubin platform.The new Vera CPU, which handles central processing workloads for the Rubin architecture, is currently in full production. Nvidia CEO Jensen Huang told Bloomberg News that systems built on the new architecture are scheduled to begin shipping in the third quarter.The collaboration will also focus on producing custom memory for Nvidia's Jetson Thor robotic computing platforms.As part of the deal, the South Korean chipmaker, a rival to Samsung Electronics (KRX:005930) and Micron Technology, gains access to Nvidia software suites like PhysicsNeMo and Omniverse. SK Hynix plans to integrate these tools into its in-house simulation codes and 3D visualizations to build "digital twins" of its manufacturing facilities, optimizing autonomous fab operations and the movement of mobile robots.Nvidia has also partnered with SK Telecom to deploy the full-stack Nvidia DSX platform.The agreement aims to build a gigawatt-scale AI Cloud in South Korea, with the first AI data center scheduled to go online by 2027. This infrastructure will provide GPU-based cloud computing tailored to support sovereign, physical, and agentic AI workloads for enterprises across Korea, with plans to expand to Asia."Telecom networks are becoming national AI infrastructure," said Huang. "They connect people, companies, devices and machines - and now they can become the backbone of new AI clouds."Separately, Nvidia also teamed up with Naver to expand sovereign AI infrastructure, starting at 55 megawatts with plans to move to gigawatt scale using the DSX platform.Naver will leverage Nvidia's open model Nemotron 3 Ultra to further scale its HyperCLOVA X model for enterprise use.Naver will also deploy the Nvidia Cosmos platform to accelerate its "Seoul World Model," which uses real-world Korean spatial data to train autonomous driving systems.While the exact financial terms of these collaborations were not disclosed, Reuters reported that the hardware partnership with SK Hynix will run for at least two years, with an option to extend, following high-profile meetings between Jensen Huang, SK Group Chairman Chey Tae-won, and Naver founder Lee Hae-jin.In Seoul trading at midday on Monday, SK Hynix's shares fell nearly 2%, Naver jumped almost 14%, while SK Telecom rose nearly 7%.
South Korean President Lee Jae Myung has nominated Han Seongsook, the Minister of SMEs and Startups and former chief executive of internet company Naver (KRX:035420), as the country's next prime minister, the presidential office said Sunday.If confirmed by parliament, Han would become the country's first female prime minister in two decades, Reuters said in a same-day report.
California-headquartered cab-hailing services provider Uber and South Korean internet company Naver formed an 80-20 consortium to submit a preliminary bid of up to 8 trillion won for Delivery Hero's stake in Baedal Minjok, Seoul Economic Daily reported Tuesday.Naver's stake is capped at 19.9% to avoid business combination filing obligations under the Fair Trade Act, which are applicable when a large corporate group takes over 20% or more of a firm's shares, the report said.Delivery Hero, the Germany-based food-delivery company, confirmed the transaction, saying Uber now owns 19.5% of the former's issued capital, with a further 5.6% in options, in a press release issued Monday.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Hana Bank will acquire a 6.55% stake in Dunamu, the operator of South Korea's largest cryptocurrency exchange, for about 1 trillion won as part of efforts to strengthen its digital finance capabilities.The lender will purchase 2.284 million existing Dunamu shares in a cash transaction from Kakao Investment, according to a Friday Korea Exchange filing by parent Hana Financial Group (KRX:086790).Dunamu is an affiliate of South Korean internet company Kakao (KRX:035720), which confirmed the transaction in a separate filing on Friday.The acquisition is scheduled to close on June 15.Dunamu operates cryptocurrency exchange Upbit alongside trading platform and information service businesses in South Korea.Hana Bank described the acquisition as a "strategic equity investment to secure new finance competitiveness."South Korea is one of the world's most active cryptocurrency markets, dominated by five major spot exchanges, including Upbit, Bithumb, Coinone, Korbit, and Gopax.Upbit and Bithumb together account for nearly 96% of the country's cryptocurrency trading volume, according to crypto market data and analytics provider Kaiko.The investment comes amid a Chosun report that the value of virtual assets held by South Korean investors fell by more than 60 trillion won in just over a year as funds shifted into domestic and overseas equity markets following weakness in cryptocurrency prices, including Bitcoin.Citing data submitted by the Bank of Korea to lawmaker Cha Kyu-keun, the report said the total value of virtual assets held domestically stood at 60.6 trillion won at the end of February.Naver's (KRX:035420) financial unit agreed in 2025 to acquire Dunamu in an all-stock deal valued at 15.13 trillion won, in what was among Asia's largest fintech transactions that year.Naver Financial said the acquisition was aimed at securing future growth opportunities tied to digital assets.The South Korean internet giant also plans to pursue an initial public offering of Naver Financial after the share-swap deal is completed, though key details remain unsettled.South Korea is also considering a framework to allow the local issuance of won-denominated stablecoins, though legislation has faced delays amid disagreements over eligibility requirements and regulatory oversight.