Investment banks lose ground amid Naver s global expansion
Posted : 2021-01-28 15:23
Tech giant conducting large deals without hiring financial advisers
By Park Jae-hyuk
Global investment banks have been excluded from benefiting from Naver s aggressive expansion into the global market, as the country s dominant web portal has begun to conduct large, cross-border deals without hiring financial advisory firms, according to industry officials on Thursday.
It has been usual for foreign investment banks to earn commissions by participating in big deals being pursued by Korean companies. Naver, however, completed a series of huge investments recently under the supervision of its own in-house experts.