Naver's headquarters in Pangyo, Gyeonggi Province (Korea Herald DB)
Naver Corp., South Korea's top internet portal operator, said Wednesday it has made a strategic investment of $150 million in Indonesian media giant Emtek to strengthen its foothold in the Southeast Asian market.
Emtek operates broadcast channels, as well as the over-the-top service Vidio, overseeing media content production and distribution.
Through the investment, the two companies aim to collaborate and find new business opportunities, such as in webcomics and cloud technology, in Indonesia and the broader Southeast Asian market.
Naver, an online media powerhouse in South Korea, has popular messaging app Line under its wing, which has 81 million users in Southeast Asia, while its webcomic service Line Webtoon ranked as the top application in Indonesia and Thailand in terms of sales in the comic category in Google's Play store.
The latest move follows Naver's investment in Singapore-based online marketplace platform Carousell last year and in Indonesian e-commerce company Bukalapak in 2019. (Yonhap)