Naver Cloud’s CEO Expects Exports Doubling as AI Demand Surges Globally
In Brief
Naver Cloud’s CEO Kim Yuwon foresees an increase in its exports of cloud computing and AI services within the next three years.
South Korea‘s Naver Cloud foresees a significant increase in its exports of cloud computing and artificial intelligence services within the next three years, assets CEO Kim Yuwon.
The technology conglomerate is aiming for global expansion of its AI offerings, underlining the adaptability of its services as a key factor that renders them appealing to markets outside of China and the United States.
“The U.S. 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, providing a competitive edge for Korean firms,” Naver Cloud CEO Kim Yuwon told Reuters.
In October Naver affiliates won a $100 million export contract to provide digital twin mapping services to Saudi Arabia’s Ministry of Municipal and Rural Affairs. More regional projects are expected in the future, Kim said.
Naver is a prominent entity within South Korea’s technological domain, distinguishes itself through the utilization of proprietary foundational AI models. Moreover, the company asserts its dominance with a preeminent local search engine, thereby positioning itself as a contender against Google, owned by Alphabet.
While specific export figures were not disclosed, the company recently secured a noteworthy $100 million contract in October to deliver digital twin mapping services to Saudi Arabia‘s Ministry of Municipal and Rural Affairs.
According to the company, it sets the stage for future regional projects, and advanced discussions are reportedly underway with entities in the United Arab Emirates, the Philippines, and Singapore, as there is growing interest in AI adoption among these nations.
Naver’s Holistic Approach to Global Expansion
Kim highlighted the unique demands of countries seeking to develop their own AI ecosystems, contrasting with the approach of unilaterally acquiring technology from the U.S. or China. Naver’s unit, Naver Cloud, offers a comprehensive suite of services, including AI solutions, cloud computing, corporate tools like co-working platforms and data center operations.
The company recently inaugurated South Korea’s largest data center, equipped to accommodate up to 600,000 servers. Kim asserted that Naver’s diverse offerings, coupled with units specializing in areas such as robotics, position the company to provide overseas clients with an integrated package of services.
In a departure from opting for the U.S. “global standard” services, Naver aims to address concerns about compatibility with evolving technologies. Kim expressed confidence that Naver’s solutions offer a reliable alternative, emphasizing the company’s commitment to meeting the unique needs of diverse global markets.
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Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.
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Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.
