On the 5th, near Hongdae Ipgu Station in Mapo District, Seoul, the person who likely gained the biggest business benefit from the "samso (samgyeopsal and soju) meeting" with Jensen Huang, Nvidia chief executive officer (CEO), SK Group Chairman Chey Tae-won, LG Group Chairman Koo Kwang-mo, and Naver Chair Lee Hae-jin was probably Chair Lee. One thing Lee did at the end of the gathering is drawing attention.
When it came time to pay for the meal, Chair Lee didn't take out a wallet or a card. As soon as he faced the Naver Pay payment terminal "N Pay Connect," the payment was completed in one second. He rang the golden bell by paying with the facial recognition payment "Face Sign." It was a moment that succinctly showcased Naver's future payment technology and platform strategy.
Chair Lee's performance was promoted not only to Huang and the heads of SK and LG Group, but also delivered as if broadcast live to the entire nation. Huang marveled at the facial recognition payment, raised Lee's hand high, and shouted, "This person paid the expense."
Long called a reclusive manager, Chair Lee is volunteering as Naver's technology ambassador. Looking at his recent moves, it's clear that the core competitive edge Naver wants to emphasize is no longer search, but technology.
◇ Introducing N Pay Connect with the phrase "Hyungnim, I'll treat you"
On the day of the samso meeting, Chair Lee paid for citizens' meals, and citizens cheered, chanting "Naver, Naver." The samso meeting golden bell appears to have actually been planned. That day, Naver posted in real time on its official social media (SNS) a post introducing N Pay Connect with the phrase "Hyungnim, I'll treat you." The restaurant where the samso meeting took place is also said to have only recently joined as an N Pay Connect merchant.
Naver Pay first introduced the facial payment "Face Sign" in Mar. 2024. Then in November last year, it released the N Pay Connect terminal that supports facial payment as well as cash, card, QR, Samsung Pay, and near-field communication (NFC). When unveiled, it was expected to disrupt the existing market by being more convenient than simple payment methods using smartphones, such as Samsung Pay, but it is true that Naver's facial payment and N Pay Connect had limited recognition. However, the meeting with Huang delivered a strong promotional effect.
In particular, N Pay Connect is an offline payment terminal and, at the same time, a data collection platform. It connects the entire process within Naver's ecosystem, from consumer payment and writing reviews to reservations and search. It can be seen as part of a grand platform strategy to absorb even offline data as Naver evolves into an AI company.
◇ Emphasizing platform technology prowess through CHZZK
On the 8th, three days after the "samso meeting," Huang visited Naver's headquarters 1784 in Seongnam, Gyeonggi. Chair Lee again used the meeting with Huang as an event to promote Naver's technology. They prepared a special live broadcast featuring Huang and Lee on Naver's streaming platform CHZZK. This wasn't simply a live broadcast for Huang's fans or a publicity broadcast. It is interpreted as an attempt to directly showcase the real-time streaming technology Naver has, its large-scale platform operation capabilities, and the ecosystem that delivers AI services to users.
CHZZK is a streaming platform Naver has been nurturing since Twitch Korea withdrew in 2023. In a relatively short period, Naver built a platform equipped with large-scale concurrent access handling, ultra-low latency streaming, real-time chat, recommendation algorithms, and an advertising system.
An industry official said, "What Chair Lee showed Huang wasn't a live broadcast, but an emphasis that Naver is a technology company capable of operating a platform used by millions simultaneously."
Experts said Chair Lee's moves reflect how urgent Naver's shift in business strategy is in the AI era.
Sejong University business administration professor Hwang Yong-sik said, "Jensen Huang showed that reclusive leadership no longer works and that a field-centered leader is needed," adding, "Chair Lee's proactive moves signal Naver's determination to pivot properly from a search company to fit the AX (AI transformation) era."