Naver is investing more than $100 million in artificial intelligence technology for the development of autonomous driving, Naver Labs, as it is being reported that, would offer a self-driving car rental service.
Naver through this has decided to diversify its revenue sources as advertising revenues still account for three quarters of the company’s total. Naver has plans to invest some 500 billion won in the Internet of Things, autonomous driving and robotics over the next five years from 2017. In late 2016, Naver had got the Korea Transportation Safety Authority’s approval of its own vehicle with self-driving capabilities. The company, at present is waiting for an official license from the Transportation Ministry.