Naver invested 25% of revenue in R&D projects last year

Naver`s headquarters in Pangyo, Gyeonggi Province (Korea Herald DB)

Naver spent 1.33 trillion received ($1.1 billion) in analysis and growth final yr, almost 1 / 4 of its complete annual gross sales, the corporate stated Sunday. Its investment-to-sales ratio of 25.11 p.c was the best amongst all South Korean corporations that launch annual efficiency reviews.

In line with the corporate’s annual report, its funding in R&D actions was bigger than its annual working revenue final yr, which was 1.2 trillion received. In comparison with a yr earlier, the R&D spending in 2020 was a rise of 236.5 billion received.

When it comes to funding quantity, Naver trailed Kia Motors, which spent 1.6 trillion received in R&D actions final yr. Nevertheless, in relation to the determine as a proportion in opposition to the income, Naver far exceeded Kia Motors, whose annual gross sales was almost 10 time bigger than Naver’s.

Naver’s native rival Kakao spent 535.four billion received in R&D tasks final yr, which accounted 12.9 p.c of the corporate’s annual gross sales for 2020, down from 14.2 p.c from a yr earlier.

Within the native sport trade, Netmarble spent 519 billion received in R&D, accounting for 20.9 p.c of its mixed gross sales in 2020. NCSoft posted a 16 p.c ratio.

In 2020, Naver accomplished 46 tasks to develop applied sciences in synthetic intelligence, digital actuality and on-line platforms fields, in accordance with the corporate. Naver is presently operating a complete of 133 R&D tasks, referring to a variety of applied sciences similar to blockchain, facial recognition and multilingual language processing, the corporate added.

Naver is anticipated to additional develop its R&D funding sooner or later, as hinted by Naver CEO Han Seong-sook throughout an investor relations convention name held to share the corporate’s efficiency within the fourth quarter final yr.

By Shim Woo-hyun (ws@heraldcorp.com)

— to www.koreaherald.com

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