KoreaTechToday - Korea's Leading Tech and Startup Media Platform
  • Topics
    • Naver
    • Kakao
    • Nexon
    • Netmarble
    • NCsoft
    • Samsung
    • Hyundai
    • SKT
    • LG
    • KT
    • Retail
    • Startup
    • Blockchain
    • government
  • Topics
    • Naver
    • Kakao
    • Nexon
    • Netmarble
    • NCsoft
    • Samsung
    • Hyundai
    • SKT
    • LG
    • KT
    • Retail
    • Startup
    • Blockchain
    • government
No Result
View All Result
KoreaTechToday - Korea's Leading Tech and Startup Media Platform
No Result
View All Result
Home AI

Naver and SoftBank to come together for an AI project that captures the global market

 212,821 total views,  1 views today

KoreaTechToday Editor by KoreaTechToday Editor
PUBLISHED: October 18, 2021 UPDATED: October 18, 2021
in AI, Naver, Softbank
0
Naver and SoftBank to come together for an AI project that captures the global market

Naver Corp. has partnered with SoftBank Group to work on an Artificial Intelligence project which will help them offer services beyond the Asian market. Industry insiders reported on Friday that discussions were being held between the two parties regarding their partnership. 

The joint venture will have the financial support of SoftBank along with its global network ties. On the other hand, Naver will be investing its human resource and technology into the project. There’s no official announcement yet; however, Naver officials are likely to declare it in the coming weeks as the project goes ahead.  

Naver has begun generating funds for the new joint venture from various sources. The company has decided to spin off Naver Clova, also known as Clova Interface Connect. Naver will be drawing funds from some other Japanese partners as well. 

According to the sources, Naver officials conducted a meeting with Masayoshi Son. The founder of SoftBank has reportedly shown interest in the project and agreed to support financial and other discussed terms. 

SoftBank recently invested in two large projects, including Coupang with $2.5 billion and Yanolja with $1.6 billion. The new joint venture is likely to have funds invested larger than SoftBank’s recent investments. 

It will be the second time that the duo will be working together on a tech project. The Global investment officers of Naver and the Founder of SoftBank have supported a similar cooperation project earlier through Z Holdings. This first project involved LINE by Naver and Yahoo by SoftBank and was launched in March this year. 

CIC, a cloud virtual assistant subsidiary of Naver, presently operates in various AI projects. Right from its planning and development, the company looks after end-to-end AI solutions for technological competitiveness. The AI technology worked upon by CIC has voice, vision and ML applications.

Introduced in 2017, CIC partners with various AI research universities around the globe, mainly in Korea, Southeast Asia and Europe. With this, the internal lab of CIC has jointly worked on more than sixty research papers on AI innovations in 2021. These papers were showcased at several international conferences. 

At present, CIC has a human resource strength of around 700 employees. However, Naver aims to increase it to 5000 personnel by hiring global tech talent from countries like the U.S., India, and Europe. It is projected to give a big push for the new project. 

The discussed joint venture will accelerate AI operations in the international market to secure a leading position globally. The Korean market views great potential in AI innovations by Clova CIC, which can contend against tech giants such as Amazon, Google and Facebook. 

What’s your thoughts?
+1
0
Upvote
+1
0
Clap
+1
0
Clap
+1
0
On fire
+1
0
Meh
+1
0
Clap
+1
0
Tags: Artificial Intelligencekorea news

Related Posts

Chowis
AI

Chowis’ ‘Selfie full facial AI Skin Solution’ mySkin F.A.I.N. gets in CES 2023 Innovation Award list

December 8, 2022
Naver HTTP3
Naver

Naver becomes the first Korean platform to upgrade to HTTP/3 for a faster search service

November 16, 2022
KIOT
AI

Korean AI startup KIOT offers crowd-counting technology to prevent Itaewon-type stampedes

November 3, 2022
Naver joins RE100
Naver

NAVER becomes Korea’s first Internet company to join RE100

August 24, 2022
Interior Teacher
AI

Korean home-styling designer match platform Interior Teacher gets Series A investment 

July 13, 2022
Naver webtoon
Naver

Naver’s ‘story-tech’ Webtoon platform marks its 5th anniversary with 180 million followers

May 2, 2022
No Result
View All Result

Follow Us

FREE NEWSLETTER




PRODUCTS

Most Popular

  • 5 Best Korean to English Translation Apps

    0 shares
    Share 0 Tweet 0
  • Top South Korean Tech Products to Look Out for in 2021

    0 shares
    Share 0 Tweet 0
  • Top Eight Promising EdTech Startup Companies in South Korea

    0 shares
    Share 0 Tweet 0
  • 5 All-Time Best Rom-Com K-Dramas to Watch

    0 shares
    Share 0 Tweet 0
  • Top Nine Mobile MMORPG in South Korea for 2020

    0 shares
    Share 0 Tweet 0
  • Netmarble subsidiary Metaverse Entertainment’s K-Pop virtual girl band MAVE has a smashing online debut

    0 shares
    Share 0 Tweet 0
  • World’s First 5G Robot Café has a Seoul Opening

    0 shares
    Share 0 Tweet 0
  • Korean tech giants to focus on future innovations & sustainability actions at CES 2023 

    0 shares
    Share 0 Tweet 0
  • Top 10 Must-Have Korean Apps You Need When Visiting in Korea

    0 shares
    Share 0 Tweet 0
  • South Korea Improves Digital New Deal with the Data Dam Project

    0 shares
    Share 0 Tweet 0
  • About Us
  • Account Page
  • application form
  • Cookie policy
  • Default Redirect Page
  • homepage
  • Login
  • login form
  • LogOut
  • Newsletter
  • Privacy Policy
  • Register
  • Reset Password
  • Sample Page
  • Subscription Plan
  • Terms of Use
  • test
  • test
  • testpage
  • TOS Page
  • Visitor Inside User Page

Copyright © 2022 KoreaTechToday | About Us | Terms of Use |Privacy Policy |Cookie Policy| Contact : [email protected] |

No Result
View All Result
  • Topics
    • Naver
    • Kakao
    • Nexon
    • Netmarble
    • NCsoft
    • Samsung
    • Hyundai
    • SKT
    • LG
    • KT
    • Retail
    • Startup
    • Blockchain
    • government

Copyright © 2022 KoreaTechToday | About Us | Terms of Use |Privacy Policy |Cookie Policy| Contact : [email protected] |