[Alpha Biz=(Chicago) Reporter Kim Jisun] NAVER CFO (Chief Financial Officer) Kim Nam-sun said Naver Webtoon's listing in the U.S. could have a positive impact on Naver's stock price.
"The subsidiary's attraction of external funds does not necessarily undermine shareholder value," CFO Kim Nam-sun said at a shareholders' meeting held at Naver 1784 in Seongnam, Gyeonggi Province on the 26th. "In some cases, shareholders of the parent company can enjoy better value, which is an example of Naver Webtoon."
"Most of Naver investors invest in diversified portfolios such as advertising and commerce," CFO Kim said. "Small parts like webtoons are not fully reflected in Naver's stock prices."
"Naver Webtoon is a business that makes up a small portion of Naver's total sales, and it has had a negative effect on Naver's stock price because it has been in the red until recently," CFO Kim said. "By listing it in the U.S. market, it will help the branding effect, awareness and cooperation with Hollywood producers, which will eventually help enhance Naver's shareholder value."
"We reviewed the listing of Naver Webtoon under the belief that this will create value that has not been reflected in Naver's stock price so far," he added. "If it had been listed as a subsidiary in Korea, we would not have considered it."
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
