À̹ÌÁö È®´ë South Korea¡¯s top search engine operator Naver Corp. is expediting search for new business opportunities in the vast Southeast Asian market with $150 million investment in Indonesia¡¯s largest media conglomerate Elang Mahkota Teknologi Tbk (Emtek), the company announced on Wednesday.
The latest investment has led Naver to secure up to 2 percent stake in Emtek.
Emtek – founded in 1983 – is a technology, telecommunication, and media conglomerate in Indonesia with a market capitalization of $10.3 billion. It owns the country¡¯s major over-the-top service platform Vidio and multiple terrestrial channels.
It also offers simple payment services, as well as e-commerce and information technology solutions such as cloud.
Lee Jung-an, head of corporate development and investments at Naver, expected the strategic partnership between the Korean tech giant and Emtek will create great synergy in diverse areas – especially in commerce, content, and cloud sectors.
À̹ÌÁö È®´ë The investment is seen as part of Naver¡¯s grand move to aggressively expand its presence in the global market kicking off with Southeast Asia with massive population.
In 2018, Naver invested $150 million in Malaysian mobility company Grab, and in 2019, $30 million in Vietnam digital entertainment firm Pops Worldwide, $20 million in Indonesian online grocer HappyFresh, and $50 million in Indonesian e-commerce startup Bukalapak.
Last year, the Korean company also invested $80 million in Southeast Asia¡¯s biggest secondhand marketplace Carousell.
Shares of Naver closed Thursday 0.78 percent lower at 381,500 won ($341.23).
By Lee Yong-ik and Lee Eun-joo
[¨Ï Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]