Naver and financial group Mirae Asset recently announced that they will form a joint venture with up to 100 billion won (USD $83.96 million) in capital to help support the future technology industry.
Through the new partnership, the two companies plan to revitalize the industry by actively seeking out and supporting top companies in sectors including artificial intelligence, IoT (internet of things), augmented reality, virtual reality, smart homes and autonomous navigation.
The joint investment will be split between the two companies, with Mirae Asset to match Naver’s investment of 50 billion won and manage operation of the fund.
Naver plans to invest a total of 500 billion won (USD $419.67 million) into developing technologies, having recently announced that it will invest 350 billion won in audio technologies, with another 15 billion won to be put into video content and technology.
