Naver appoints first outsider chairman, female CEO

Naver appointed Byun Dae-gyu and Han Seong-sook as the new board chairman and CEO, respectively, the company said Friday.

The nation’s top internet service provider held a general meeting of shareholders and a board directors’ meeting at its headquarters in Bundang, Gyeonggi Province, to vote for the appointment of new top deci- sion-makers.

Byun, who also chairs world’s leading set-top box maker Humax Holdings, will be the first to work as Naver’s board chairman from outside of the company. After leaving his position as the board chairman, Naver founder Lee Hae-jin is expected to concentrate on Naver’s startup investment in Europe.

Han will replace the current CEO Kim Sang-hun who headed the firm for the past eight years.

Han became the first woman CEO to lead the internet service company. She joined Naver in 2007 and has led the growth of the company’s key mobile services such as instant payment, live video streaming and shopping.

“I will lead the company while listening to the voices of our shareholders carefully,” Han said. “I plan to foster the company as a provider of technology platform through further expanding support for content creators and small businesses for mutual growth.”

Kim said, “Han is already doing so well that I don’t need to give her any advice.” He said he will retire from management and continue to contribute to Naver by assuming an advisory role only.

As the first global move under Han’s stewardship, Naver said Friday it will invest 100 billion won ($88.35 million) in YG Entertainment.