SEOUL, Naver Cloud Corp. said Monday it has signed an initial agreement with NHN Cloud Corp. to expand its artificial intelligence (AI) business to foster a domestic AI ecosystem.

Under the memorandum of understanding, the two companies will work together to develop multi-cloud services using Naver Corp.’s hyperscale AI model HyperCLOVA X and conduct large language model businesses in the public arena, according to officials.

Naver Cloud is the cloud affiliate of Naver Corp., South Korea’s leading internet portal operator.

In particular, Naver Cloud said it will focus on creating an AI platform centered around HyperCLOVA X to strengthen the competitiveness of the South Korean AI ecosystem and AI technologies.

“The global competition surrounding leadership of the AI industry has been intensifying such that some people say it’s the era of AI nationalism,” Naver Cloud CEO Kim Yu-won said, noting his company will work to expand the domestic AI ecosystem.

Source: Yonhap News Agency