Naver Corp Ord (NHNCF) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

My name is Choe Myung Hwan from Naver. We will now begin Naver's 2025 Q1 earnings conference call. For the benefit of our investors joining from home and abroad, we will provide simultaneous interpretation. On this call, we are joined by CEO Siwon Choi and the newly appointed CFO Heechul Kim, and they will walk you through Naver's business highlights and strategies and financial results, after which we will entertain your questions. Please note that the earnings results are KIFRS-based, are provided for timely communications, and have not yet been audited by an independent auditor, and hence are subject to change after such review. With that, I will turn it over to our CEO to present on the business highlights. Good morning. I'm Suyeon Choi, the CEO of KIFRS. In 2025, despite an uncertain environment, Naver achieved solid results by strengthening its core business of competitiveness and advancing its platforms. In the changing era of AI, Naver has demonstrated its unique platform competitiveness with exclusive content and data, not only for search but also for content discovery, and even extending to services like shopping and local places, creating an ecosystem that AI cannot replace. Furthermore, through the launch of AI Briefing, Neighbor is progressively adapting to changing user patterns. Recently, through advanced personalization, Neighbor has further strengthened its business ties, especially in shopping and local places. This is evident in the YOY growth of 11.9% in search platform and YOY growth of 8.2% in search advertising recorded in Q1. In the advertising segment, neighborhood ads began to evolve as we enabled more efficient ad delivery within the advertisers' budgets through the phased rollout of the ad tech platform named AdBoost, which began testing i...