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Collin Furtado · · 1 min readLine operator Naver invests $150m in Indonesian conglomerate Emtek
“South Korea’s online platform giant Naver has invested US$150 million in Elang Mahkota Teknologi (Emtek), Indonesia’s largest technology, telecom and media conglomerate, to bolster its operations in the Southeast Asian region,” reported The Korean Economic Daily.
Details:
- With the investment, Emtek and Naver will seek new growth opportunities in Indonesia and the rest of Southeast Asia, according to a Naver statement.
- Emtek is Indonesia’s ninth largest conglomerate, with a market capitalization of US$10 billion.
Context:
- Aside from somenational and local broadcast channels, Emtek owns Vidio, one of the biggest video streams in the country. It’s also involved in original content production and distribution as well as ecommerce, payments, and cloud computing.
- Recently, Naver’s accelerator led a seed round of Bering Lab, a legal-focused AI translation startup based in South Korea.
Editing by Eileen C. Ang
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