ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

South Korea's Naver reaps $13bn windfall from Line-Yahoo merger

Operating profit slips on cost of fielding advanced tech team

Each of Naver's business segments reported substantial growth in sales. (Photo by Kotaro Hosokawa)

SEOUL -- Naver, South Korea's biggest internet portal operator, booked an extraordinary profit of 14.9 trillion won ($13.3 billion) from the merger of former chat subsidiary Line with Yahoo Japan's parent, the company said Thursday.

The one-time windfall boosted Naver's net profit to 15.3 trillion won for the first quarter, according to Thursday's earnings statement, up from 134.9 billion won a year earlier.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more