Naver Announces Net Profits of Almost 125 billion Won

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7 August 2015. The leading South Korean search giant Naver has announced net profits of almost 125 billion won last quarter, equivalent to 107 million US dollars. This is more than 3 times higher than profits made in the same quarter last year, when Naver made just under 40 billion won. Naver has put the dramatic increase down to a boost in mobile advertising, with 72% of the profits being made from ads. An increasing number of people have been using Naver’s mobile shopping platform, as well as its integrated mobile payment service Naver Pay. Naver has also been pumping investment into its overseas ventures, with the launch of Line Music in Japan and its Line messaging app in the Middle East also being touted as reasons behind Naver’s success.

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