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Naver's new CEO aims for 1 billion users globally in five years

South Korean tech company's Choi Soo-yeon dreams of catching Google, Baidu

Naver Chief Financial Officer Kim Nam-sun, left, and CEO Choi Soo-yeon at a news conference, where the latter said the internet company aimed to hit 1 billion users globally in five years. (Photo courtesy of Naver)

SEONGNAM, South Korea -- Naver's new CEO said Wednesday the South Korean internet giant has set five-year goals of reaching 1 billion users globally and 15 trillion won ($12.2 billion) of revenue to compete in the same league with tech rivals such as Baidu, Google, Microsoft, Tencent and Meta.

Choi Soo-yeon said the company will expand in Japan, North America and Europe, launching new businesses and striking M&A deals. In particular, Choi said the company eyes mergers and acquisitions in North America, aiming to invest 1 trillion won every year in companies that produce online cartoons and stories.

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