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[NAVER’s 26th Annual General Shareholders’ Meeting and Board of Directors Meeting]

NAVER Founder Lee Haejin Brings Experience and Expertise to Choi Soo-yeon’s Second Term

- GIO Lee Haejin, with global experience, enhances stability in Choi Soo-yeon’s second term while accelerating AI transformation

- All five proposals are approved, including the appointment of inside and outside directors, audit committee members, financial statements, and remuneration cap of directors

- A board meeting, held immediately after the annual general shareholders’ meeting, elected Lee Haejin as Chairman and Choi Soo-yeon as CEO

March 26, 2025

NAVER announced that all proposed agenda items were approved during its 26th Annual General Shareholders’ Meeting held at 10:00 a.m. on March 26 at NAVER Green Factory in Bundang-gu, Seongnam-si, Gyeonggi-do. Key approvals included the appointment of NAVER’s founder, Lee Haejin, as an inside director and the reappointment of CEO Choi Soo-yeon as inside director.

NAVER’s board of directors determined that in the era of AI transformation, the company needed a figure capable of presenting its unique mid- to long-term growth direction. They recommended Lee, who has led major paradigm shifts in the Internet and mobile industries through independent strategies, as a candidate for inside director. His appointment was officially approved during the shareholders’ meeting.

With Lee joining the board, CEO Choi Soo-yeon’s second term will be further strengthened by leveraging his successful experience and expertise. NAVER anticipates that this appointment will accelerate the development and implementation of its unique strategies, reinforcing its position as a leading AI company and enhancing its global competitiveness.

During her previous term, CEO Choi laid the foundation for NAVER’s future growth by driving AI-based service innovation, discovering new business ventures, and restructuring the management system. She also led the company to achieve solid growth, becoming the first Korean Internet platform company to achieve an annual revenue of KRW 10 trillion. Building on these achievements, CEO Choi’s second term will focus on the “On-Service AI” strategy, seamlessly integrating NAVER’s core AI technologies with its diverse business portfolio to foster new innovations.

In the same shareholders’ meeting, NAVER appointed Kim Yi-bae, an accounting professor at Duksung Women’s University, as a new outside director and an audit committee member. Rho Hyeok-joon was also reappointed as an outside director and an audit committee member. As a result, all five proposals were approved, including the Approval of Financial Statements for the 26th Term (Fiscal Year 2024), Appointment of Inside Directors, Appointment of Outside Directors, Appointment of Audit Committee Members, and Approval of Remuneration Cap of Directors.

At the board meeting following the shareholders’ meeting, Lee Haejin was appointed as Chairman, and Choi Soo-yeon was appointed CEO. <End>

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