After founder Lee Hae-jin returned last year as board chair, Naver is revving up again for external expansion. Breaking from the trend of slimming down by exiting noncore businesses, it is rebuilding its subsidiary portfolio around the Middle East, global investment, Fintech, and platforms.
According to Naver's 2025 business report on the 17th, the company had 95 subsidiaries as of the end of last year. That is an increase from the previous year and a clear shift from the 2024 focus on large-scale restructuring and efficiency. At the time, Naver cut 22 subsidiaries to prioritize selection and concentration. But last year alone, 14 new subsidiaries were added.
The list of newly consolidated subsidiaries makes clear where Naver is putting its weight. The first notable axis is the Middle East. Naver created NAVER Arabia Regional Headquarter in Saudi Arabia. It serves as a forward base overseeing Middle East operations. As Naver has been expanding its information technology business in the Middle East, including Saudi Arabia, the establishment of the entity is seen as a sign of its intent to broaden its stride from domestic platform corporations to a global technology operator.
Expansion in the investment institutional sector also stands out. Last year Naver newly set up NAVER Ventures Fund I, L.P., NAVER Ventures Management, LLC., NAVER Partners Fund I, L.P., and Naver Digital Healthcare No. 1 Investment Partnership. It also established NW HOLDINGS INTERMEDIA, S.L.U, a local entity in Spain. Five of the 14 new subsidiaries are categorized as investment entities. The industry sees this as reflecting board chair Lee Hae-jin's investment strategy, as he has served as global investment officer (GIO) even before returning to the board.
Reinforcement in platforms and Fintech also moved in tandem. Naver newly established CreamPay, a Fintech firm, and acquired platform companies such as Securities Plus Unlisted, Place& (an offline store operations efficiency platform), Place& Japan, AShil (an apartment actual transaction price, market price, and listings big data platform), and Senakl (a cloud-based health platform). These moves are interpreted as a card to widen the touchpoints between finance and platforms. In addition, Purple Duck (an animation and graphics content studio) and HJ&L (e-commerce) joined Naver's roster of new subsidiaries.
Naver's subsidiary reshuffle differs from the past. The pendulum is shifting from a period focused on expense efficiency and business exits back toward investment and expansion. When he returned to the board last year, Lee Hae-jin said, "It is time to invest aggressively and decisively." The actual change in the subsidiary lineup aligns with this direction. The market is watching Naver's next investment targets, further subsidiary reshuffles, and the pace of new business expansion.
Kim Kyung-won, a distinguished professor of business administration at Sejong University, said, "Since the founder's return, Naver seems to have set its course toward aggressive investment and business expansion," and added, "It appears to be a strategy to secure advanced technologies of domestic and overseas companies with capital through operating multiple investment subsidiaries, and to attempt to expand its business scope by acquiring numerous platform companies."