Naver (035420.KS) generated more than 12 trillion won in revenue last year, marking a third consecutive year of record results. The driving force behind this upward trajectory has been the integration of artificial intelligence with its core businesses. The company plans to further enhance AI capabilities this year while expanding into robotics systems to boost profitability from new technologies. Additionally, Naver is focusing its management strategy on expanding its influence as a global platform company.
Naver announced Thursday that it recorded annual revenue of 12.035 trillion won ($8.9 billion) and operating profit of 2.208 trillion won for 2024. These figures represent increases of 12.1% and 11.6% year-on-year respectively, achieving the company's highest results since its founding and marking three consecutive years of growth. After becoming the first homegrown platform company to surpass 10 trillion won in revenue in 2024, Naver exceeded 12 trillion won just one year later.
The stable earnings growth is primarily attributed to successful AI integration across existing business segments. AI contributed 55% of the increase in platform advertising revenue, for example. Smart Store also saw annual transaction volume grow 10%, boosted by the AI-based recommendation shopping service "Naver Plus Store" launched in March last year.
Having successfully equipped its AI engine last year, Naver is attempting to create new revenue streams through advanced AI this year. The company will introduce a "Shopping AI Agent" later this month and launch an "AI Tab" in the first half of the year. "Based on user data and inference technology, we will provide a new search experience where AI proactively intervenes to understand users' search, exploration, and discovery needs, supporting purchases and reservations," CEO Choi Soo-yeon emphasized.
Beyond its platform business, Naver is also securing growth engines in robotics. The company has accumulated indoor delivery expertise by operating about 100 robots at its second headquarters building "1784." "This year, we will conduct various tests combining commerce and robot delivery in outdoor environments," Choi said. "We will build Naver's unique business model for the AI robotics era."
The collaboration with Nvidia is particularly noteworthy. Naver is enhancing scalability using Nvidia's digital twin platform "Omniverse." Currently, Naver's robot systems are provided through Naver Cloud. By offering robot-related software through Omniverse, the company aims to expand its market presence both domestically and internationally. Rapid entry and establishment in North America, Saudi Arabia, and Japan—markets where Naver already has a presence—is expected. "We are demonstrating robot delivery services using high-precision maps, which are central to our digital twin project in Saudi Arabia, and are in discussions to pursue such business centered on smart buildings in Japan," a Naver official said.
This year will also complete the final puzzle for autonomous robot delivery. Proof-of-concept testing, which has been conducted indoors until now, will move to outdoor environments to verify practical applications in real urban settings. "This year, we will conduct various tests combining commerce and robot delivery in outdoor environments," Choi emphasized. "We will build Naver's unique business model for the AI robotics era."
Naver also presented a blueprint targeting the "Web3 finance" era. Once the merger between Naver Financial and Dunamu is completed this year, the company plans to enter the global stablecoin business based on synergies between the two entities.
Meanwhile, Naver has decided to proceed with dividends of 393.6 billion won under its new shareholder return plan. The company plans to return 25-35% of the average consolidated free cash flow from the previous two years through share buybacks and cancellations or cash dividends over the next three years (2025-2027).