Naver Invests 167.8 Billion KRW in Indonesia's Largest Media Company 'Emtek'

[Asia Economy Reporter Kang Nahum] Naver announced on the 7th that it has made a strategic investment in Elang Mahkota Teknologi (Emtek), Indonesia's largest comprehensive media company.

Emtek, ranked 9th in Indonesia with a market capitalization of $10.3 billion, was established in 1983 and is currently Indonesia's largest comprehensive media platform company. Naver invested $150 million (1.678 trillion KRW) in Emtek, welcoming it as a new global strategic partner.

Emtek owns Indonesia's leading OTT platform 'Vidio,' as well as the nation's top 1st and 2nd terrestrial channels and regional terrestrial channels. Additionally, it is engaged in various original content production and distribution businesses. Beyond media, entertainment, and content, Emtek also has expertise in various tech-based business areas such as easy payment, commerce, and IT solutions like cloud services.

There are many points of contact with Naver, which is focusing on growing its content and cloud sectors. Accordingly, the two companies plan to explore various collaboration methods based on each other's strengths as global strategic partners. Webtoon-based content with global IP competitiveness can meet local users through Emtek's diverse digital content platforms, and cooperation in the cloud sector is also possible.

Naver has also established a solid foundation in Indonesia and Southeast Asia. Line Webtoon ranks first in revenue in the comics category on Google Play in Indonesia and Thailand, and Line, which has completed a business integration with Z Holdings, has 81 million users in Southeast Asia, including Indonesia. Strategic investments have also been made in Carousell, Southeast Asia's largest secondhand trading platform, and Bukalapak, Indonesia's leading e-commerce platform.

Lee Jung-an, Naver's Chief Leader, said, "We expect to create synergies in various fields through a strategic partnership with Emtek," adding, "We plan to find points of contact with Southeast Asian partners focusing on Naver's key businesses with global expansion potential, such as commerce, content, and cloud, and based on this, explore various opportunities."

This content was produced with the assistance of AI translation services.