World's Largest Asset Manager BlackRock Increases Naver Stake by 1%P

Naver Stake Rises to 6.05%, Up by 1 Percentage Point
Holding 9.59 Million Shares Worth Approximately 1.9377 Trillion KRW
Solidifies Position as Second Largest Shareholder After the National Pension Service

BlackRock, the world's largest asset management company, has increased its stake in Naver by approximately 1 percentage point. With this purchase, BlackRock has further strengthened its influence in Naver.

BlackRock headquarters in the United States. Provided by BlackRock.

According to the Financial Supervisory Service's electronic disclosure system on the 10th, BlackRock's stake in Naver rose from 5.03% as of September 8, 2016, to 6.05% as of December 11 last year. With this additional purchase, BlackRock now holds 9,592,734 shares of Naver, valued at approximately 1.9377 trillion KRW based on the closing price of 202,000 KRW on that day.

BlackRock stated that the reason for purchasing Naver shares was "for simple investment purposes." This is interpreted as a positive evaluation of Naver's growth potential and stability in the global market.

Currently, the largest shareholder of Naver is the National Pension Service, holding an 8.24% stake. BlackRock is the second-largest shareholder of Naver, following the National Pension Service.