Lee Hae-jin Resumes Leadership at Naver Amid AI Industry Shake-Up
Portfolio - People | Feb 05, 2025 | EIN
Lee Hae-jin, the founder of Naver, is set to return as chairman of the board after a seven-year hiatus, marking a pivotal moment for the South Korean technology giant. This move is fueled by the dynamic and competitive landscape of the artificial intelligence (AI) industry, especially with the recent ascension of DeepSeek, a Chinese AI startup presenting competition to established leaders like OpenAI. Lees reinstatement as chairman is seen as a strategic maneuver to bolster Naver's position in the global AI race. Navers board is anticipated to finalize the decision within the week, while Lee's previous departure in 2018 was to drive global expansion. This decision reflects a period of intensified competition in AI between China and the US, underscoring the urgency for strategic innovation. Naver, which has been promoting its HyperCLOVA AI model, faces challenges of performance and cost compared to others in the industry, making an aggressive strategic direction essential. The return of Lee is expected to inject renewed vigor into Naver's AI ambitions, complemented by potential synergies with CEO Choi Soo-yeon. Choi, given her recent revenue achievement, is poised for reappointment, aligning her focus on M&A and new ventures while Lee channels efforts towards global AI expansion.
Sectors
- Artificial Intelligence
- Technology
- Corporate Governance
Geography
- South Korea – Naver, a South Korean tech giant, is at the heart of this narrative, with its strategic decisions and leadership changes impacting its market position.
- China – DeepSeek, a Chinese AI startup, establishes a geographical context where competition, especially in the AI domain, arises.
Industry
- Artificial Intelligence – The article centers around the competition in the AI industry, noting Naver's efforts, including its HyperCLOVA model, amid emerging rivals like DeepSeek.
- Technology – Naver's activities, as influenced by AI advancements and the leadership changes, highlight broader technological initiatives and market positioning.
- Corporate Governance – The focus on Lee Hae-jin's appointment to the board also touches on corporate leadership and internal strategic direction.
Financials
- 10 trillion won – Naver's annual revenue achievement under CEO Choi Soo-yeon's oversight, highlighting the company's financial stature.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Naver | Target company | Company | A leading tech company in South Korea, focusing on AI technologies in response to competitive pressures. |
| Lee Hae-jin | Board Chairman | People | Founder of Naver, returning as board chairman to position Naver for strategic expansion in AI. |
| Choi Soo-yeon | CEO | People | CEO of Naver, expected to continue in the role while focusing on M&A and business ventures. |
| DeepSeek | Competitor | Company | A Chinese AI startup, which has launched technology rivaling major AI players, influencing Naver's strategic focus. |