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Photo courtesy of Yonhap News |
[Alpha Biz= Kim Jisun] Naver has entered into a strategic partnership with Tata Consultancy Services (TCS), the IT arm of India’s largest conglomerate, the Tata Group, to accelerate its expansion into the Indian market.
Naver announced on April 20 that it signed a memorandum of understanding (MOU) with TCS during the Korea–India Business Forum held in New Delhi.
The event, hosted by the Federation of Korean Industries, was attended by key government and business leaders from both countries. Representing Korea were Minister of Trade, Industry and Energy Kim Jung-kwan and Naver CEO Choi Soo-yeon, while India was represented by Commerce and Industry Minister Piyush Goyal and TCS CEO Ujjwal Mathur.
TCS is India’s largest IT services provider, offering consulting and technology solutions across industries such as banking, manufacturing, retail, healthcare, and telecommunications in more than 100 countries. The company generates annual revenue of approximately $30 billion.
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Choi Soo-yeon, CEO of Naver (Photo courtesy of Naver) |
Under the agreement, the two companies will combine their strengths in artificial intelligence (AI), cloud computing, and business-to-consumer (B2C) services to explore new business opportunities, particularly in AI transformation (AX) and digital transformation (DX) centered on the Indian market.
The partnership is expected to create synergies by integrating Naver’s platform technologies with TCS’s global service ecosystem and extensive data capabilities, enabling faster commercialization of localized services in India.
Choi Soo-yeon, CEO of Naver, said, “As India rapidly expands its industrial ecosystem with the goal of becoming a global AI leader, we aim to create new business opportunities in AI, cloud, and B2C services through this collaboration.”
Naver plans to leverage the partnership to accelerate its localized AI and cloud business expansion in India, a market of over 1.4 billion people.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
