80-692: Rank Xerox Limited was formed in 1956 as a joint venture between the Xerox Corporation of United States (a.k.a. Haloid Photographic) and The Rank Organisation of the United Kingdom, to manufacture and market Xerox equipment initially in Europe and later in Africa and Asia. A further joint venture between Rank Xerox and Modi Group in India formed Modi Xerox (now Xerox India ) to manufacture and sell Xerox equipment in
160-1013: A temporary partnership for the purpose of carrying out a particular project, such partnership can also be called a joint venture where the parties are " co-venturers ". The venture can be a business JV (for example, Dow Corning), a project/asset JV intended to pursue one specific project only, or a JV aimed at defining standards or serving as an "industry utility" that provides a narrow set of services to industry participants. Some major joint ventures include United Launch Alliance , Vevo , Hulu , Virgin Media O2 , Penske Truck Leasing , and Owens-Corning . According to Gerard Baynham of Water Street Partners, there has been much negative press about joint ventures, but objective data indicate that they may actually outperform wholly owned and controlled affiliates . He writes, "A different narrative emerged from our recent analysis of U.S. Department of Commerce (DOC) data, collected from more than 20,000 entities. According to
240-439: A 2.2 percent average ROA, while wholly owned and controlled affiliates in the U.S. only realized a 0.7 percent ROA." In European law , the term "joint venture" is an exclusive legal concept, better defined under the rules of company law . In France , the term "joint venture" is variously translated as "association d'entreprises", "entreprise conjointe", "coentreprise" or "entreprise commune". A JV can be brought about in
320-651: A beta version in March. Clova is an AI platform integrating speech and image recognition and artificial neural network translation to provide an interactive engine. Clova is being integrated into Naver and Line services, Naver's smart speaker WAVE and Friends , smart display FACE, and other third-party devices. BAND , CAMP Mobile's first app released in August 2012, is a closed type of social network where groups can be formed according to type and purpose. The app has more than 80 million downloads with global users accounting for 30% of
400-479: A combined 100 million euros (US$ 112 million) into K-Fund 1. K-Fund 1 is a European startup accelerator fund operated by Korelya Capital, which is an investment firm established by Fleur Pellerin , the Korean-born former French minister overseeing small and medium enterprises in the digital economy. In 2017, Naver established its subsidiary companies Snow, Naver Labs, and Naver Webtoon. Naver opened Space Green, which
480-517: A company. By its formation, the JV becomes a new entity with the implications that: On the receipt of the Certificate of Incorporation, a company can commence its business. This is a legal area and is fraught with difficulty as the laws of countries differ, particularly on the enforceability of "heads of" or shareholder agreements. For some legal reasons, it may be called a Memorandum of Understanding . It
560-434: A distinct infinite canvas layout as well as a weekly update system, and has gained a large amount of traction beginning from the late 2000s. The service received more than 6 million hits per day from unique visitors and had accumulated more than 29 billion total visits as of June 1, 2014. In July 2014, Naver launched a global version of the service under the name of Line Webtoon. The userbase of Line Webtoon grew rapidly after
640-593: A large neural network technology named N2MT (Naver Neural Machine Translation). It can translate text and phrases in 15 different languages (Korean, English, Japanese, Chinese (Simplified), Chinese (Traditional), Spanish, French, German, Russian, Portuguese, Italian, Vietnamese, Thai, Indonesian, Hindi) by analyzing context instead of statistical analysis. Papago app has so far garnered over 16 million downloads. In June 2015, Naver launched its own payment service, Naver Pay, which allows mobile payment service and online checkout. Naver TV (Previously known as Naver TV Cast)
720-419: A new market, particularly emerging market ; to gain scale efficiencies by combining assets and operations; to share risk for major investments or projects; or to access skills and capabilities. Most joint ventures are incorporated, although some, as in the oil and gas industry , are "unincorporated" joint ventures that mimic a corporate entity. With individuals, when two or more persons come together to form
800-530: A parental monitoring system that blocks harmful or inappropriate information. Meanwhile, Junior Naver's "Gameland" service was officially terminated in February 2019. [1] In 2002, Naver set up one of the first Q&A webpages , Knowledge iN. The service allows users to post questions on any subject, and select from answers submitted by other users, points are awarded to users with the most helpful answers. Knowledge iN also offers an Open Dictionary function, which
880-485: A principal disadvantage is absence of an interested and influential Chinese party. As of the 3rd Quarter of 2004, WFOEs had replaced EJVs and CJVs as follows: (*)=Financial Vventures by EJVs/CJVs (**)=Approved JVs These enterprises are formed under the Sino-Foreign Investment Act. The capital is composed of value of stock in exchange for the value of the property given to the enterprise. The liability of
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#1732852350985960-404: A speech in 1968, Rank Xerox managing director Nigel Foulkes said that in 1961 the company had had "a five-years' lead over the rest of the world", with copying products which had no serious competition. But "you cannot strike oil and not expect other prospectors to sink wells". In 1968, Rank Xerox, under Foulkes, initiated a marketing concept to sell rather than rent their copying machines behind
1040-442: A train and a converted bus, a huge mobile exhibition was conceived. This moved from town to town, like a circus, using sports halls and exhibition centres to present a vast, virtual, office of the future . Ralph Land CBE, was General Manager of Rank Xerox Eastern Europe Operations (1976–91). During the 1980s the managing director Roland E. Magnin helped the company to become the international arm of Xerox Corporation. He then moved to
1120-412: A variety of results from a search query on a single page, organized by type (for example blogs, webpages, images, cafes, etc.). In September 2000, Naver established Hangame Japan. In 2001, NAVER Comm was renamed NHN Corporation (Next Human Network), although both divisions—Naver and Hangame—continued to operate under their original brand names. NHN also stood for (NAVER, Hangame, Network). In 2002, NHN
1200-501: A web-novel section specializing in online genre-novels since 2013. One of its most famous novels is Moonlight Drawn by Clouds , which was adapted into a successful television series of the same name starring Park Bo-gum and Kim Yoo-jung . In October 2017, Naver officially released the PC version of Whale, its omni-tasking web browser supporting diverse features using AI technologies. Naver had been developing Whale for 5 years and had released
1280-609: Is Naver's R&D subsidiary developing future technologies in areas such as autonomous driving and artificial intelligence with the goal of achieving Ambient Intelligence. It first began as an R&D division within Naver in 2013, and was officially established in Pangyo in January 2017 with CEO Song Chang-Hyeon. Naver Labs has been working in areas such as Papago (an AI-based translation app), Whale (an omni-tasking browser), and robots. Products include
1360-547: Is a children's search service that began in 1999. Junior Naver provides various services for children of each age range, such as Pororo Play Time (educational content for aged 3~5), Pany's Room (decoration simulator using Pany Pang characters), Children's song world, and Children's story world—as well as a Disney Zone for Disney Channel shows and animations. The application and the mobile version were each launched in 2011 and 2012 in order to provide contents in streaming form rather than having to download them. Junior Naver also operates
1440-674: Is a database of informative articles generated by users. Users can create an article on their own, or enable other users to collaborate by creating a thread of articles on the same subject. There is also an 'Ask an Expert' category where licensed doctors, veterinarians, pharmacists, lawyers, tax accountants, and labor attorneys answer users' questions. As of May 2016, Knowledge iN had 100 million questions, 200 million answers, and 47 million accumulated users. Naver Cafe and Blog are user-generated content (UGC) platforms where users post specialized contents on various themes. Cafe allows users to create communities on various topics, and Blog gives any user
1520-585: Is a software education platform company. Naver's annual revenue for 2016 was 4.02 trillion won. In 2016, Line Corporation was double listed on both the NYSE and the TSE . In August 2016, Naver spun off its app SNOW into a separate subsidiary company, Snow Corp. Naver also began Project Flower, a project which aims to support small businesses and creators by cooperating with them on various projects. In September 2016, Naver and its affiliate Line announced that they would invest
1600-554: Is a startup space inside Station F , a startup incubator space located in France. Naver also acquired Xerox Research Centre Europe, located in the French city Grenoble , rebranding it as Naver Labs Europe. In 2018, Naver launched Naver Z Corp, a division that focuses on the Metaverse . Naver Z also launched the online game platform Zepeto the same year. In mid-January 2021, Naver announced
1680-421: Is a web broadcast network which provides web dramas distributed by Naver as well as user created content with videos and live streams. Naver NOW. is a streaming service available through Naver's app, that streams music and radio shows live 24-hours a day. In 2004, Naver Corporation launched its online comic service Naver Webtoon, which is now one of the largest Korean webtoon platforms. The service promotes
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#17328523509851760-404: Is allowed to enter into contracts with appropriate government authorities to acquire land use rights, rent buildings, and receive utility services. In this it is more similar to a CJV than an EJV. WFOEs are expected by PRC to use the most modern technologies and to export at least 50% of their production, with all of the investment is to be wholly provided by the foreign investor and the enterprise
1840-547: Is currently cooperating with IT startups in order to evolve into a tech-based platform. Naver Corporation was first established in June 1999 under the name of Naver Comm. Along with its search engine Naver , the company also launched a service for children named Junior Naver. In July 2000, Naver merged with Hangame Communications Inc. and several other companies including Oneque and Search Solutions. In August 2000, Naver began its 'comprehensive search' service, which allows users to get
1920-592: Is described below. The EJV Law is between a Chinese partner and a foreign company. It is incorporated in both Chinese (official) and in English (with equal validity), with limited liability. Prior to China's entry into WTO – and thus the WFOEs – EJVs predominated. In the EJV mode, the partners share profits, losses, and risk in equal proportion to their respective contributions to the venture's registered capital. These escalate upwardly in
2000-465: Is done in parallel with other activities in forming a JV. Though dealt with briefly for a shareholders' agreement , some issues must be dealt with here as a preamble to the discussion that follows. There are also many issues which are not in the Articles when a company starts up or never ever present. Also, a JV may elect to stay as a JV alone in a "quasi partnership" to avoid any nonessential disclosure to
2080-464: Is what will happen if the firm is dissolved, if one of the partners dies, or if the firm is sold. Often, the most successful JVs are those with 50:50 partnership with each party having the same number of directors but rotating control over the firm, or rights to appoint the Chairperson and Vice-chair of the company. Sometimes a party may give a separate trusted person to vote in its place proxy vote of
2160-505: Is within his total control. WFOEs are typically limited liability enterprises. Like with EJVs, but the liability of the directors, managers, advisers, and suppliers depends on the rules which govern the Departments or Ministries which control product liability, worker safety or environmental protection. An advantage the WFOE enjoys over its alternates is enhanced protection of its know-how but
2240-562: The Forbes Global 2000 list for the first time. That same year, NHN had the largest market capitalization among KOSDAQ -listed companies before being transferred to the KOSPI market in November. In 2009, Kim Sang-Hun of NHN and Jing-Wan Kim of Samsung were the only South Korean CEOs to appear on Forbes ' Asia's Fab 50 list. In 2010, NHN bought Livedoor , a Japanese ISP and blog platform. In
2320-542: The Indian subcontinent . The initial joint venture was 50% Xerox and 50% Rank Organisation, but this changed after a few years to a 60/40 split. Later, Xerox bought a further share making the split 80/20, and in the late 1990s, completed the purchase, so Rank Xerox Limited formally became Xerox Limited . The Rank Xerox Research Centre was renamed to the Xerox Research Centre Europe. The laboratory, based in France,
2400-557: The Iron Curtain , by appointing Gordon S Planner as General Manager East Export Operations via a firm of head hunters. Sales of machines increased rapidly to Eastern Europe and a unique marketing concept deployed in 1973 using a specially built and equipped train showcasing Rank Xerox copiers, it toured nine countries in Eastern Europe covering 30,000 miles and returned orders of over £3m. Commissioning London based designer Cairnes Maltby,
2480-476: The World Trade Organization (WTO) around 2001 has had profound effects on foreign investment. Not being a JV, they are considered here only in comparison or contrast. To implement WTO commitments, China publishes from time to time updated versions of its "Catalogs Investments" (affecting ventures) prohibited, restricted. The WFOE is a Chinese legal person and has to obey all Chinese laws. As such, it
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2560-450: The "constitution" of a company in these countries. The articles of association regulate the interaction between shareholders and the directors of a company and can be a lengthy document of up to 700,000 or so pages. It deals with the powers relegated by the stockholders to the directors and those withheld by them, requiring the passing of ordinary resolutions , special resolutions and the holding of Extraordinary General Meetings to bring
2640-456: The DOC data, foreign joint ventures of U.S. companies realized a 5.5 percent average return on assets (ROA), while those companies' wholly owned and controlled affiliates (the vast majority of which are wholly owned) realized a slightly lower 5.2 percent ROA. The same story holds true for investments by foreign companies in the U.S., but the difference is more pronounced. U.S.-based joint ventures realized
2720-626: The Founder at board meetings. Recently, in a major case the Indian Supreme Court has held that Memorandums of Understanding (whose details are not in the articles of association) are "unconstitutional" giving more transparency to undertakings. A JV is not a permanent structure. It can be dissolved when: Joint ventures are risky forms of business partnerships . Literature in business and management has paid attention to different factors of conflict and opportunism in joint ventures, in particular
2800-459: The JV's life, giving the option to the foreign investor, by holding higher equity, obtains a faster rate of return with the concurrent wish of the Chinese partner of a later larger role of maintaining long-term control. The parties in any of the ventures, EJV, CJV or WFOE prepare a feasibility study outlined above. It is a non-binding document – the parties are still free to choose not to proceed with
2880-565: The Rank Xerox Research Centre was renamed to the Xerox Research Centre Europe. The laboratory, based in France, was acquired by South Korean IT company Naver Corporation in 2017, and later became Naver Labs Europe. Joint venture A joint venture ( JV ) is a business entity created by two or more parties, generally characterized by shared ownership , shared returns and risks , and shared governance. Companies typically pursue joint ventures for one of four reasons: to access
2960-528: The US) covering know-how and trademarks and supply-of-equipment agreements. The minimum equity is prescribed for investment truncated, where the foreign equity and debt levels are: There are also intermediary levels. The foreign investment in the total project must be at least 25%. No minimum investment is set for the Chinese partner. The timing of investments must be mentioned in the Agreement and failure to invest in
3040-463: The acquisition of Wattpad for US$ 600 million. In March 2021 Line Corporation merged with Yahoo Japan , which has been operated by Z Holdings , a SoftBank Group subsidiary. Under the new structure, Naver and SoftBank Corp., which is the wireless carrier unit of SoftBank Group, each hold 50 percent stakes in a new company named A Holdings Corp., which holds a majority stake in Z Holdings, which will operate Line and Yahoo Japan. Upon integrating
3120-516: The autonomous robot Around, the in-vehicle information and entertainment platform Away, as well as an autonomous vehicle project. In August 2017, Naver Labs acquired Xerox Research Center Europe (XRCE) for an undisclosed amount and renamed it. Naver Labs Europe is the biggest industrial research center in Artificial Intelligence in France. NAVER Cloud Corporation provides services for Naver and its subsidiaries. NAVER Cloud has launched
3200-461: The cases, the status of the formed enterprise is that of a legal Chinese person which can hire labor directly as, for example, a Chinese national contactor. The minimum of the capital is registered at various levels of investment. Other differences from the EJV are to be noted: Convenience and flexibility are the characteristics of this type of investment. It is therefore easier to find co-operative partners and to reach an agreement. With changes in
3280-714: The chance to manage their own personal blog. There were 10.5 million Naver Cafes running in May 2017, making Naver the most visited Cafe platform in the country. 800,000 new contents are generated every day in 23 million Blogs and 10 million Cafes. Naver Dictionary supports 34 categories, including English, Korean, Chinese, Chinese characters, Japanese, Global Communication, Vietnamese, Uzbek, Indonesian, Thai, Arabic, Khmer, Tamil, Mongolian, Hindi, Persian, Nepali, Swahili, French, German, Spanish, Russian, Italian, Latin, Portuguese, Turkish, Georgian, Albanian, Ukrainian, Romanian, Dutch, Swedish, Hungarian, Polish, and Czech as of May 30, 2017. It has
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3360-608: The corporation's headquarters in Connecticut where he was responsible for the decentralization program of the company as one of its top directors. The remaining 20% stake owned by the Rank Organization in Rank Xerox Limited was bought out by the parent Xerox Corporation for £940 million in 1997; the company was renamed Xerox Limited soon after. The Rank Xerox name was discontinued following the buyout in favour of Xerox, and
3440-618: The death of Mao Zedong in 1976, initiatives in foreign trade began to be applied, and law applicable to foreign direct investment was made clear in 1979, while the first Sino-foreign equity venture took place in 2001. The corpus of the law has improved since then. Companies with foreign partners can carry out manufacturing and sales operations in China and can sell through their own sales network. Foreign-Sino companies have export rights which are not available to wholly Chinese companies, as China desires to import foreign technology by encouraging JVs and
3520-495: The directors' decision to bear. A Certificate of Incorporation or the Articles of Incorporation is a document required to form a corporation in the U.S. (in actuality, the state where it is incorporated) and in countries following the practice. In the US, the "constitution" is a single document. The Articles of Incorporation is again a regulation of the directors by the stock-holders in
3600-468: The following major ways: In the UK , India , and in many common law countries, a joint-venture (or else a company formed by a group of individuals) must file its memorandum of association with the appropriate authority. This is a statutory document which informs the public of its existence. It may be viewed by the public at the office in which it is filed. Together with the articles of association , it forms
3680-528: The global visual communication market. SNOW allows users to take pictures or videos (of a maximum duration of 10 seconds) and choose from 1,300 stickers and 50 filters. They can also send them as messages that destroy themselves in 48 hours. The application has over 200 million users, mainly consisting of teenagers in Asian countries. The firm is led by CEO Kim Chang-wook and its office is located in Pangyo, South Korea with approximately 200 employees. NAVER LABS Corp.
3760-423: The government or the public. Some of the issues in a shareholders' agreement are: There are many features which have to be incorporated into the shareholders' agreement which is quite private to the parties as they start off. Normally, it requires noтуОЧ submission to any authority. The other basic document which must be articulated is the Articles, which is a published document and known to members. This repeats
3840-547: The indicated time, draws a penalty. Co-operative Joint Ventures (CJVs) are permitted under the Sino-Foreign Co-operative Joint Ventures. Co-operative enterprises are also called Contractual Operative Enterprises. The CJVs may have a limited structure or unlimited – therefore, there are two versions. The limited-liability version is similar to the EJVs in status of permissions – the foreign investor provides
3920-583: The influence of parent control structure, ownership change, and volatile environment. Government procurement regulations, such as the Federal Acquisition Regulation (FAR) in the United States, may specify how joint ventures are to be approached as suppliers or confirm that a joint venture or other form of contractor partnering is seen as a "desirable" arrangement for supplying to government. The FAR states that The Government will recognize
4000-405: The integrity and validity of contractor team arrangements [including joint ventures], provided the arrangements are identified and company relationships are fully disclosed in an offer or, for arrangements entered into after submission of an offer, before the arrangement becomes effective. The Government will not normally require or encourage the dissolution of contractor team arrangements. Under
4080-705: The latest technologies. Under Chinese law, foreign enterprises are divided into several basic categories. Of these, five will be described or mentioned here: three relate to industry and services and two as vehicles for foreign investment. Those five categories of Chinese foreign enterprises are: the Sino-Foreign Equity Joint Ventures (EJVs), Sino-Foreign Co-operative Joint Ventures (CJVs), Wholly Foreign-Owned Enterprises (WFOE), although they do not strictly belong to Joint Ventures, plus foreign investment companies limited by shares (FICLBS), and Investment Companies through Foreign Investors (ICFI). Each category
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#17328523509854160-589: The latter came up firstly with a train unit comprising five carriages. These contained staff accommodations, a kitchen, overnight staff sleeping cabins and a demonstration salon and bar. Pulled by engines of the various countries of the Soviet Bloc, the train reached Russia and a welcome market. The following year Cairnes Design Associates produced the first of the Rank Xerox Showliners. A large, articulated, semi-trailer truck with motorised pull-outs, this allowed
4240-477: The law, it becomes possible to merge with a Chinese company for a quick start. A foreign investor does not need to set up a new corporation in China. Instead, the investor uses the Chinese partner's business license, under a contractual arrangement. However, under the CJV, the land stays in the possession of the Chinese partner. There is another advantage: the percentage of the CJV owned by each partner can change throughout
4320-402: The majority of funds and technology and the Chinese party provides land, buildings, equipment, etc. However, there are no minimum limits on the foreign partner which allows him to be a minority shareholder. The other format of the CJV is similar to a partnership where the parties jointly incur unlimited liability for the debts of the enterprise with no separate legal person being created. In both
4400-600: The most languages among Korean dictionaries. Handwriting recognition is supported in Japanese and Chinese characters. Naver is also investing 10 billion won for the development of language dictionaries for five years beginning from 2016. Naver Encyclopedia functions consist of a professional database with over 3 million entries from many different encyclopedias. V Live was a global live streaming platform with videos and contents ranging from concert broadcasts to V originals (for example, real-time private shows for celebrities). There
4480-505: The online Q&A platform Knowledge iN . On August 1, 2013, Naver decided to split with Hangame, a corporation with which it had grown together with as NHN Corporation for 13 years. On October 1, 2013, the company adopted its current name, Naver Corporation, in order to reflect the change, thus restoring its pre-merger name. Hangame is now overseen by NHN Entertainment Corporation . Naver's current affiliates include Snow, Naver Labs, Naver Webtoon, NAVER Cloud, and Works Mobile. The company
4560-634: The original. Law tracked down the backers, an obscure photographic-supply company in Rochester, New York, named Haloid. Haloid and Rank subsequently formed an affiliate called Rank Xerox (Rank put up £600,000 for a 50% stake in Rank Xerox). This arrangement paved the way for Xerox factories in Great Britain and a sales and distribution system that brought Xerox machines to the European market. As photocopying took
4640-542: The process of being made." Well-known works include The Sound of Your Heart , which was developed into a web series of the same name , Noblesse , and Tower of God . Fashion King and Cheese in the Trap were also each adapted into a film and television series respectively. In 2017, Naver split off its webtoon business into the subsidiary Naver Webtoon, which is also known by its alternative name Line Webtoon in foreign markets. In addition, Naver Webtoon also manages
4720-471: The project. The feasibility study must cover the fundamental technical and commercial aspects of the project, before the parties can proceed to formalize the necessary legal documentation. The study should contain details referred to earlier under Feasibility Study (submissions by the Chinese partner). There is basic law of the PRC concerning enterprises with sole foreign investment controls, WFOEs. China's entry into
4800-551: The road-legal trailer to extend to a fully functional showroom, complete with large picture windows and small kitchen. Unlike the train it was capable of reaching the small to medium size cities of the Soviet Bloc. Both train and truck avoided the problems that affected western firms trying to establish a presence in the East. Later, in the UK, the mobile exhibition concept was taken to its ultimate conclusion. Following several truck based Showliners,
4880-531: The rules applicable to public procurement in the European Union , public bodies may insist that suppliers intending to provide goods and services through a joint partnership accept joint liability for the execution of the contract. According to a 2003 report of the United Nations Conference on Trade and Development , China was the recipient of US$ 53.5 billion in direct foreign investment, making it
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#17328523509854960-440: The same proportion as the increase in registered capital. The JV contract accompanied by the articles of association for the EJV are the two most fundamental legal documents of the project. The Articles mirror many of the provisions of the JV contract. In case of conflict the JV document has precedence. These documents are prepared at the same time as the feasibility report. There are also the ancillary documents (termed "offsets" in
5040-495: The same year, the company moved into its new headquarters now known as the Green Factory . In June 2011, NHN Japan launched Line , a messaging application that quickly soared in usage. In the same year, NHN Japan, Naver Japan and Livedoor were all merged into one company: NHN Japan. In August, NHN also established its Singapore branch NHN Singapore. In 2013, NHN launched its subsidiary companies Camp Mobile and Line Plus. NHN
5120-509: The service was released globally, with 65 million users per month, 18 million among them being foreign users. Line Webtoon showcases approximately 870 works in seven languages: English, Mandarin, Cantonese, Taiwanese Indonesian, Thai, Spanish and French. Various movies , Korean dramas , animated series , and video games have been produced based on Naver webtoons. According to JunKoo Kim in 2014, "a total of 189 books, videos and games based on [Naver] webtoons ha[d] either been produced or [were] in
5200-435: The shareholders agreement as to the number of directors each founder can appoint to the board of directors; whether the board controls or the founders; the taking of decisions by simple majority (50%+1) of those present or a 51% or 75% majority with all directors present (their alternates/ proxy ); the deployment of funds of the firm; extent of debt; the proportion of profit that can be declared as dividends; etc. Also significant
5280-453: The shareholders, including debt, is equal to the number of shares purchased by each partner. Naver Corporation The Naver Corporation ( Korean : 네이버 주식회사 ) is a South Korean internet conglomerate headquartered in Seongnam that operates the search engine Naver . Naver established itself as an early pioneer in the use of user-generated content through the creation of
5360-461: The third largest web-novel platform in Korea. In October 2022, Naver agreed to buy social commerce marketplace Poshmark for a total enterprise value of US$ 1.2 billion, which finalized in January 2023. Based on the influence of its core search engine service, Naver has also developed new business models in online advertisement, content, and deep-tech through research and development. Naver
5440-474: The two businesses and creating further platforms, the merged company aims to compete with the U.S. tech giants Google, Amazon, Facebook, and Apple and the Chinese tech giants Baidu , Alibaba , and Tencent , as well as the Japanese e-commerce giant Rakuten . The merger also gives Z Holdings three additional Asian markets where Line is popular: Taiwan, Thailand, Indonesia, and Malaysia. In May 2021, Naver partnered with CJ Group’s CJ ENM to acquire Munpia Inc,
5520-472: The user base, and currently supports 10 languages in over 168 countries. Band Game was also released in May 2014 to provide a competitive platform for both users and game companies. According to a survey conducted by the app data analysis firm Wiseapp in September 2017, Naver BAND is the second most-used social media service app for South Korean users, after Facebook. Its total usage time was 29 million hours, which
5600-523: The world by storm, so did Rank's profits. According to Graham Dowson, later Rank's chief executive, it was "a stroke of luck that turned out to be a touch of genius … If Tom Law had not seen that magazine, we would not have known about xerography – or at least not before it was too late." In 1962, Rank Xerox also formed a joint marketing and manufacturing facility in Japan with The Fuji Photo Film Company and named Fuji Xerox (now Fujifilm Business Innovation ). In
5680-426: The world's largest recipient of direct foreign investment for the first time, to exceed the US. Also, it approved the establishment of nearly 500,000 foreign-investment enterprises. The US had 45,000 projects by 2004 with an in-place investment of over 48 billion. Until recently, no guidelines existed on how foreign investment was to be handled due to the restrictive nature of China toward foreign investors. Following
5760-464: Was a 32 percent increase from the previous year. Naver Café came in third place, outperforming Instagram, Daum Café, Twitter, and Kakao Story. Grafolio is a creative community space where artists can share their artworks. Me2day was a microblog platform that allowed users to share messages of 150 characters in length. However, it shut down in June 2014, due to poor performance against global competitors such as Twitter and Facebook . CAMP Mobile
5840-415: Was acquired by South Korean IT company Naver Corporation in 2017, and later became Naver Labs Europe. In 1956, The Rank Organisation was looking for a product to sit alongside a small business it had making camera lenses. Thomas Law, who was the head of the business, found his answer in a scientific magazine he picked up by chance. He read about an invention that could produce copies of documents as good as
5920-434: Was also a subtitle service called V FANSUB which allows users to insert their own foreign-language subtitles to the videos. The subtitle feature had attracted a large number of foreign viewers, as K-pop is gaining popularity in other countries. V Live had 35 million total downloads and 19 million monthly users. According to Alexa , as of May 2018 it is one of the 1000 most visited webpages globally. On January 27, 2021, it
6000-509: Was announced that Camp Mobile would be merged back into Naver Corporation in February 2018. SNOW Corporation develops a photo and video application called SNOW, which is considered somewhat similar to Snapchat , since both apps suggest video as an alternative communication tool rather than text. SNOW first began in September 2015 as a guerrilla project in CAMP Mobile, but has spun off into its own company as of 2016 in order to give more focus to
6080-464: Was announced that they would invest ₩354.8 billion ($ 321 million) in Hybe's technology subsidiary, Weverse Company Inc., acquiring 49% of the company. In return, the corporation would transfer its V Live streaming service to Weverse Company on March 2, 2022. It was shut down after merging with Weverse on December 31, 2022. In July 2017, Naver launched Papago, which is an AI-based mobile translator that uses
6160-500: Was established in March 2013 and focuses on developing mobile services. While it originally began as a small venture project, Camp Mobile launched over 10 different apps in areas such as utilities, social networking, and e-commerce within four months of its establishment. In 2012, the company launched its first app, Band, a social network application. In 2015, the company also presented Watchmaster, an app that allows users to select their own smart watch home screen. In November 2017, it
6240-586: Was registered on the KOSDAQ stock exchange, and launched the online Q&A service Naver Knowledge iN. In 2003, NHN merged all Japanese subsidiaries into NHN Japan. In 2005, Naver began the online donation service: Happy Bean. It also established its US branch under the name NHN USA. In 2007, it launched Naver Japan in order to pursue its search engine business in Japan. Meanwhile, NHN USA officially opened its American game service, ijji . However, it later sold away its 100% stake to Aeria Games . In 2008, NHN appeared on
6320-534: Was split into Naver Corporation and NHN Entertainment , the latter being formerly known as Hangame. Similarly, NHN Japan separated into Line Corporation (web services) and Hangame Japan (game services). In June, Naver became the first web company in Korea to build and operate its own data center, Data Center GAK, which was built in Chuncheon , Gangwon Province. In 2015, Naver launched Works Mobile for B2B collaboration businesses and merged with Entry Education Labs, which
6400-483: Was the first Korean web provider to develop its own search engine. It was also the first operator to introduce the comprehensive search service (which refers to optimized search results from various categories such as news, maps, images and so on, presented on a single page). The search engine has since grown to offer a variety of related services including e-mail, mapping, e-commerce, social media, wireless payments, and online streaming. Junior Naver, also known as Juniver,
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