Nave headquarters in Bundang-gu, Jeongja-dong

On September 24, Naver announced that it will establish 'Naver-SMEs Mutual Cooperation Organization' (tentative title) in order to help SME business owners grow online and offline using Internet.

The Naver's plan comes following various opinions from the Korea Federation of Retailers Organization (KFRO). The company has been looking for reasonable plan for mutual growth with its partners and decided to form an organization to seek new on & offline cooperative models and explore successful practices to support small and medium-sized businesses grow in a constant manner.

The mutual growth body, which will be consisted of representatives of SMEs and small business organizations and related professionals from Naver, will likely generate tangible measures to enhance mutual competitiveness and to reduce expenses by exploring alternatives in terms of technical and service development.

It will focus on creating an ecosystem by allowing SME business owners and online service providers to use their own resources and platforms to increase the value of their goods and services. It will also carry out research to seek businesses that support the growth and development of SMEs.

In the near future, Naver plans to launch a preparatory committee for the establishment of the mutual growth body in consultation with representatives of SMEs and small business organizations so the body can start its official activity by the end of this year.