Naver CEO Sole Internet Representative on Korea-US Economic Mission, Signals Push for US Market Expansion
WASHINGTON D.C. – Naver CEO Choi Soo-yeon is the sole representative from a Korean internet company participating in the economic mission accompanying the Korea-US summit in Washington, D.C. on April 25th, highlighting the growing importance of the Korean tech sector in international economic diplomacy.This participation signals Naver’s accelerating ambitions in the US market, especially in content, commerce, and artificial intelligence.
The economic mission, traditionally led by major Korean conglomerates, includes prominent business leaders such as Choi tae-won, Chairman of the Korea Chamber of Commerce and Industry; Lee Jae-yong, Chairman of Samsung Electronics; Euisun Chung, Chairman of Hyundai Motor Group; koo Kwang-mo, Chairman of LG Group; Lee Jae-hyun, Chairman of CJ Group; hur Tae-soo, chairman of GS Group; Chung Ki-sun, HD Hyundai Chief Vice Chairman; and Choi Yun-bum, Chairman of Korea Winia. Choi’s inclusion underscores a shift towards recognizing the influence of internet companies alongside conventional manufacturing powerhouses.
Naver has been actively building its US presence, recently establishing Naver Venchgs in Silicon Valley. The company is leveraging the success of Webtoon Entertainment’s NASDAQ listing to expand content collaborations, including partnerships wiht companies like Disney. Moreover, Naver is exporting its “Sovereign AI” technology to Southeast Asia and the Middle East through collaborations with NVIDIA, demonstrating its global AI ambitions.
However, the mission takes place against a backdrop of ongoing US pressure to reduce digital trade barriers with Korea. The US government is seeking a more favorable market environment for its own tech giants, voicing concerns over network usage fees and the proposed Online Platform Fairization Act in Korea. Specifically, the potential approval of exporting high-precision map data by Google is viewed as a potential challenge to Naver’s domestic map service.
The economic mission is expected to address these concerns and explore opportunities for mutually beneficial growth in the digital economy.Naver’s presence signals its readiness to navigate these challenges and contribute to a strengthened Korea-US economic partnership.
Note: This rewrite maintains all verifiable facts from the original article. It adds context by framing the mission as a signal of Naver’s expansion and the broader shift in economic diplomacy. It also clarifies the nature of the US concerns regarding digital trade barriers. No external sourcing was used beyond the provided text.
