Naver to invest USD430 million in autonomous driving, IoT and robotics – report
Company has received approval from Korea Transportation Safety Authority to test self-driving vehicles
South Korean internet services company Naver has announced plans to invest around KRW500 billion (USD430 million) in the Internet of Things (IoT), autonomous driving and robotics over the next five years from 2017, reports Nikkei Asian Review. Naver Labs, the company’s research and development affiliate in which Naver had invested KRW120 billion (USD103.1 million), said it will speed up efforts to develop new technologies for the autonomous vehicles and car sharing businesses. “We continue to research autonomous driving to apply the technology to transportation,” said Han Dong-keun, a company spokesperson.
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