Article · AI translation
IT Home reported on November 2, citing The Korea Economic Daily, that Naver founder and board chairman Lee Hae-jin is bringing in Nvidia through a $1 billion transaction (approximately 6.661 billion yuan at the current exchange rate) and diluting his own stake to accelerate the company's global AI expansion.
IT Home note: NAVER is a South Korean search engine and web portal that officially launched in June 1999. It is South Korea's largest search engine and comprehensive web portal.
After completing its share subscription, Nvidia will hold approximately 4.54% of Naver. Nvidia will surpass founder Lee Hae-jin and become the third-largest shareholder.
The top two positions will reportedly remain with institutional investors: the largest shareholder, South Korea's National Pension Service (NPS), and the second-largest shareholder, BlackRock.
According to an announcement Naver issued on October 30, 2026, the scheduled closing date for the $1 billion transaction (approximately 6.661 billion yuan at the current exchange rate) is November 6, 2026.