Team Naver to Foster Global Startups with Proprietary AI... Supporting Expansion into the Middle East

Business Agreement Signed with Korea Startup Forum

Naver Cloud and Naver Arabia announced on December 12 that they have signed a business agreement with the Korea Startup Forum to foster vertical artificial intelligence (AI) startups and expand global cooperation.

Kim Yuwon, CEO of Naver Cloud (from left), Chae Seonju, CEO of Naver Strategic Business, Han Sangwoo, Chairman of Korea Startup Forum, and Koo Taeun, Vice Chairman of Policy at Korea Startup Forum, are posing for a commemorative photo after signing a business agreement on the 11th to foster global AI startups based on an independent AI foundation model. Provided by Naver Cloud

The agreement aims to establish a virtuous cycle within the domestic AI ecosystem and to help promising startups secure global competitiveness. Naver Cloud plans to foster vertical AI startups based on its proprietary AI foundation model, which is being developed as a national flagship AI project. Through this initiative, the company intends to advance AI services for each industry and expand the domestic sovereign AI ecosystem.

Naver Cloud and the Korea Startup Forum will jointly discover promising startups that can apply AI technology by leveraging the strengths of both organizations. Selected startups will receive a variety of support programs, including competitions and mentoring, as well as access to the latest AI technologies and platform environments such as the large language model (LLM) HyperCLOVA X and cloud infrastructure.

The program will also support startups in expanding globally. By collaborating with Naver Arabia, the initiative will provide not only information on the Middle Eastern market but also opportunities to build networks with local partners, thereby laying a practical foundation for market entry. Naver Cloud expects the Middle Eastern market, where digital transformation and AI demand are rapidly increasing across industries, to serve as a bridgehead for Korean startups to expand globally.

Kim Yuwon, CEO of Naver Cloud, said, "This collaboration will play a crucial role in spreading proprietary foundation models developed with domestic technology across industries through startups, further expanding the sovereign AI ecosystem. We will spare no effort in supporting promising startups so they can grow in global markets, including the Middle East."