South Korea’s Naver Cloud CEO predicts revenues to more than double due to the AI boom

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South Korea's Naver Cloud CEO predicts revenues to more than double due to the AI boom
South Korea's Naver Cloud CEO predicts revenues to more than double due to the AI boom

Naver’s cloud computing and artificial intelligence section expects its exports to more than double, arguing that its AI services can be easily adapted for clients outside of China and the United States.

Naver’s cloud computing and artificial intelligence division expects its exports to at least quadruple in three years, claiming that its AI services can be easily adjusted for consumers outside of China and the United States. South Korea is one of the few countries that has its own basic AI models.

Naver is also one of the only worldwide companies with a dominant local search engine that can compete with Alphabet’s Google.

“The United States and China hold technological hegemony. They set the standards, which often means their technologies are a difficult fit for situations in countries around them, like regulations, users, and companies,” according to Naver Cloud CEO Kim Yuwon, giving a competitive advantage for Korean firms.

Although the company refused to share export data, Naver affiliates secured a $100 million export deal in October to supply digital twin mapping services to Saudi Arabia’s Ministry of Municipal and Rural Affairs. Kim anticipates more regional ventures in the future.

Kim stated that the company was in advanced talks with entities in the UAE, the Philippines, and Singapore.

Such countries are keen to adopt AI and “have demands to create an ecosystem within them, rather than buying it unilaterally from the United States or China,” according to Kim.

Naver Cloud, a subsidiary of Naver, offers AI services, cloud computing, corporate services such as co-working tools, and the construction and management of data centers. It opened the country’s largest data center last month, with a capacity of 600,000 servers.

Kim stated that, with other departments providing work in fields such as robotics, international consumers might receive a package of services.

“When you’re not choosing a U.S. ‘global standard’ service, there are concerns that what you’re buying may not be compatible with the next technology—not so with Naver,” he added.

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