NHN to list two units and accelerate global foray over next years

[Source: NHN Corp.]

NHN Corp. has built up enough confidence in digital business beyond games to separate its cloud division, go public with commerce unit in 2023, and double down on its global foray.

“Our next 10-year goal is to turn the company into a global tech company,” said Jung Woo-jin, NHN chief executive officer and director at a virtual corporate event held on Monday in celebration of the company’s eighth anniversary. “With our IT capabilities, NHN will strive to take its four core businesses to the overseas markets to provide our IT services to global clients by 2030.”

The company’s four main businesses are ICT technology, e-commerce, content, and payment.

Under its 10-year project, NHN will seek to spin off NHN Cloud as an independent cloud service company next year and list it later. The cloud company achieved record-high sales last year.

NHN will also foster the growth of artificial intelligence business that launched a platform for small- and medium-sized enterprises, while integrating Europe-based data solution provider NewDeep’s global network with its data platform “Dighty”.

NHN Dooray, a cloud-based collaboration tool provider, will be groomed as a Software as a Service (SaaS) company, which creates and distributes software online for customer use.

NHN Commerce will be the first to go public in 2023. The company will strive to enhance its e-commerce business in Korea, China, and Japan. NHN Global that succeeded to raise its business-to-business e-commerce marketplace FashionGo.net as a market leader in the U.S. will continue its aggressive investment with its annual transaction value target set at 10 trillion won ($8.7 billion).

Content division will focus on expansion through new works.

Video game developing unit NHN PlayArt will carry out the “333 Project” to run three projects per each of three studios and assign 30 percent of workforce to every new game development.

NHN Comico, the operator of its web comics and novel platform, will seek to attract more users beyond its main markets of Korea and Japan.

NHN Payco, a provider of easy payment and other commercial financial services, is actively expanding into the offline payment market through its 11-million userbase. It will also continue strong collaboration with NHN KCP, Korea’s leading credit card payment data processing company.

NHN will also continue to facilitate innovative corporate culture by hosting a business idea contest every year and nurture the selected projects into ventures, said the CEO.

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