EU to give pressure on Google…Opportunity for Naver to expand European market
Kim Soo Yeon | newsnews@ | 2017-06-29 10:16:56
The European Union (EU) has begun to give pressure on US companies by imposing an unprecedented penalty of over KRW 3 trillion on Google for unfair trade.
The situation in which the EU is speeding up its `anti-Google` policy is expected to be a good opportunity for Korean native Internet companies to start business in Europe.
According to major foreign press and related industries on June 28, the EU antitrust authorities have charged the company with a fine of KRW 3 trillion, stating that it abused the dominance of the search service market on June 27. In the future, the EU antitrust authorities will conduct additional unfair trade practices. It is expected that Google will send a fines bomb in a chain.
It is likely that the outlook for the European search service market will be affected in the case of the EU`s penalties toward US preference spread to the US-European economic and trade conflicts. Web traffic analysis company State Counter Analysis shows that Google`s market share in Europe is 91.92% as of May this year. The rest are divided by Bing (3.63 %), Yandex RU (1.71 %), Yahoo (1.64 %), MSN (0.3 %) and DuckDuckGo (0.29 %). Except for Yandex (Russia), all are ‘American’ search engines.
An industry expert said, "In the case of the EU focuses on `killing Google,` Naver, which focuses on enterprise-wide competitiveness in the European market, presents `outstanding than Google` and yet `better than Google`. It will be able to locate quickly in the locality. "
About 73% of the total population of 838 million people is using the Internet in Europe, and the number of social media accounts is about 400 million. Neighboring market opportunities in Europe, such as new artificial intelligence mobile services, are not uncommon.
Now Naver, the founder of the Naver board of directors, is in direct contact with the founder Lee Hae-jin, and is pushing all the organization`s capabilities into Europe. The company is also demonstrating its technology investment and acquisitions in local start-ups, which are focusing on high-tech areas such as artificial intelligence (AI) and virtual reality (VR) in the local market.
Last year Naver invested EUR 100 million (about KRW 120 billion) in Corelia Capital, which was founded by French Minister of Foreign Affairs Fleur Leung Lang (Korean-based). Corelia Capital invested in French sound technology start-up DeVille.
Naver opened start up space on the June 15 in Paris, the world`s largest start-up incubator under the name `Station F`.
It will be summarized as a podium for solidarity with local promising start-ups and the European market opening. On June 27, the company has taken aggressive steps to acquire Xerox Research Center Europe (XRCE), a French high technology research center that has been recognized for its expertise in AI research.
"It seems that there is a chance for the messenger `line rather than the search," Kim Dong-hee, an analyst at Maritz Securities, pointed out, "In Europe, US messengers such as WhatsApp and Facebook Messenger are mostly used. If it introduces mobile innovation services that combine new technologies such as robotics, it would be good opportunity."
By Kim Soo Yeon newsnews@
[ copyright ⓒ The Digitaltimes ]
The situation in which the EU is speeding up its `anti-Google` policy is expected to be a good opportunity for Korean native Internet companies to start business in Europe.
According to major foreign press and related industries on June 28, the EU antitrust authorities have charged the company with a fine of KRW 3 trillion, stating that it abused the dominance of the search service market on June 27. In the future, the EU antitrust authorities will conduct additional unfair trade practices. It is expected that Google will send a fines bomb in a chain.
It is likely that the outlook for the European search service market will be affected in the case of the EU`s penalties toward US preference spread to the US-European economic and trade conflicts. Web traffic analysis company State Counter Analysis shows that Google`s market share in Europe is 91.92% as of May this year. The rest are divided by Bing (3.63 %), Yandex RU (1.71 %), Yahoo (1.64 %), MSN (0.3 %) and DuckDuckGo (0.29 %). Except for Yandex (Russia), all are ‘American’ search engines.
An industry expert said, "In the case of the EU focuses on `killing Google,` Naver, which focuses on enterprise-wide competitiveness in the European market, presents `outstanding than Google` and yet `better than Google`. It will be able to locate quickly in the locality. "
About 73% of the total population of 838 million people is using the Internet in Europe, and the number of social media accounts is about 400 million. Neighboring market opportunities in Europe, such as new artificial intelligence mobile services, are not uncommon.
Now Naver, the founder of the Naver board of directors, is in direct contact with the founder Lee Hae-jin, and is pushing all the organization`s capabilities into Europe. The company is also demonstrating its technology investment and acquisitions in local start-ups, which are focusing on high-tech areas such as artificial intelligence (AI) and virtual reality (VR) in the local market.
Last year Naver invested EUR 100 million (about KRW 120 billion) in Corelia Capital, which was founded by French Minister of Foreign Affairs Fleur Leung Lang (Korean-based). Corelia Capital invested in French sound technology start-up DeVille.
Naver opened start up space on the June 15 in Paris, the world`s largest start-up incubator under the name `Station F`.
It will be summarized as a podium for solidarity with local promising start-ups and the European market opening. On June 27, the company has taken aggressive steps to acquire Xerox Research Center Europe (XRCE), a French high technology research center that has been recognized for its expertise in AI research.
"It seems that there is a chance for the messenger `line rather than the search," Kim Dong-hee, an analyst at Maritz Securities, pointed out, "In Europe, US messengers such as WhatsApp and Facebook Messenger are mostly used. If it introduces mobile innovation services that combine new technologies such as robotics, it would be good opportunity."
By Kim Soo Yeon newsnews@