Graphic=Son Min-kyun
Graphic=Son Min-kyun

Naver has appointed a large number of new executives from the 1980s (hereafter referred to as 80s generation) ahead of the return of founder Lee Hae-jin. This has led to interpretations that the founder's intention to deploy 'young blood' in core businesses during future organizational restructuring may be reflected.

According to Naver on the 18th, the company appointed 6 new executives this month. Among them, 5 are from the 80s generation. Specifically, the new executives include Yoon So-young (born 1981), leader of shopping business partnerships; Seo Myung-won (born 1981), leader of commerce design; Jeon Yong-woo (born 1981), leader of search products; Joo Geon-beom (born 1983), leader of sports & entertainment; and Heo Gyu (born 1983), leader of security. Within Naver, executive-level employees are referred to as 'leaders.'

Notably, all the new executives in the shopping and commerce sectors, which Naver has been actively pushing forward with the recent launch of the artificial intelligence (AI) shopping app 'Naver Plus Store,' are from the 80s generation. They have also appointed individuals from the 80s generation as executives in the search division, which is Naver's main business, as well as in the institutional sectors overseeing sports & entertainment planning and security, which has become increasingly important due to advancements in AI.

There are growing discussions that the founder, who has emphasized 'young leadership,' may further appoint individuals from the 80s generation to key positions in the 'New Naver' he will lead upon his return. It is suggested that individuals from the 80s generation could be placed in core positions such as C-level executives or institutional sector heads. Currently, within Naver, there are 3 C-level positions (CEO, CFO, COO) and 15 institutional sector head positions, but only 3 individuals from the 80s generation (Choi Soo-yeon, CEO; Koo Dong-hyun, head of strategic planning sector; Lee Jae-hoo, head of Naver app sector).

Previously, in July 2021, the founder remarked, "It is fundamentally and essentially a solution for younger and new leaders to emerge and lead the company," emphasizing young leadership. Following this statement, he appointed Choi Soo-yeon as the chief executive officer (CEO). The number of executives from the 80s generation, which was only about 8 in 2021, has steadily increased to 31 in just three years, more than three times the number of executives from the 80s generation at the competitor Kakao (9 individuals).

An IT industry insider forecasted, "In the New Naver led by founder Lee Hae-jin after his return, there will be a large number of institutional sector heads from the 80s generation who can work closely with CEO Choi, who is also from the 80s generation."

Meanwhile, there is an analysis suggesting that the rise of individuals from the 80s generation within Naver may go beyond 'generational change' and be beneficial for securing competitiveness due to the characteristics of platform corporations. Han Jun-gi, a human resources management expert at Dongmyeong University, noted that "for platform corporations like Naver, establishing and executing consumer-centric business strategies is important. Since executives from the 80s generation were born in the digital age, they have a high understanding of information technology (IT) and consumer trends," adding that "highlighting executives from the 80s generation may create an image of being an innovative and future-oriented company."

Meanwhile, on the 26th of this month, the founder is expected to return to the Naver board of directors for the first time in 7 years during the regular shareholders' meeting.