Naver operator wants to step up mobile presence

NHN Corporation, operator of Korea’s top portal Naver.com, said yesterday it plans to set up two subsidiaries as part of efforts to strengthen its mobile business.

NHN said it has won board approval to inject 40 billion won ($37 million) each into Camp Mobile and LINE Plus.

Under the plan, the company will hold a 100 percent stake in Camp Mobile, which will pioneer NHN’s new mobile services.

NHN will also own a 40 percent stake in LINE Plus, which will support the company’s flagship mobile messenger service LINE that recently reached 100 million downloads globally. NHN Japan will hold the remaining 60 percent stake.

The company, meanwhile, said it plans to spin off Hangame, a gaming unit it acquired in 2000, as part of efforts to boost competitiveness.

The company is set to announce fourth-quarter earnings today.

Yonhap