South Korean Tech Giant Naver Corp, TCS Ink MoU

South Korean tech giant NAVER Corp and India's largest IT company Tata Consultancy Services (TCS) on Monday inked a Memorandum of Understanding, one of 16 agreements signed at the India-Korea Business Forum to deepen bilateral cooperation.

NAVER's mapping and search solutions are currently developed, operated, and supported in-‘house by its teams in Korea.

According to TCS sources, under this collaboration, the Tata Group company will extend this existing IT services capability by setting up a delivery centre in India, which will function as a dedicated extension of NAVER's Korea-‘based teams. NAVER will retain full ownership of the platforms, products, and intellectual property.

TCS will enable market research support for Indian market for potential go-to-market strategy development, the source said.

The MoU was signed between NAVER CEO Choi Soo Yeon and TCS President - India market, Ujjwal Mathur.

NAVER Corp. is a global ICT company, behind South Korea's leading search portal 'NAVER' and has business portfolios encompassing commerce, Fintech, content, community, and MAP services.

NAVER's sustained investment in research and development across proprietary AI, cloud computing, robotics, mobility, and other cutting-edge technologies is enabling the company to bring future innovations into everyday use.

The MoU with TCS involves mutual cooperation in map services, according to details circulated at the event. As per that, the MoU outlines "entry into India's mapping services market through a strategic collaboration combining the capabilities of Tata Group, India's largest conglomerate, and NAVER, a leading Korean IT company." The TCS sources further said that the partnership involves establishing and operating an India-based Offshore Delivery Centre (ODC). The ODC in India will leverage TCS's AI expertise and global delivery model to support NAVER in selected digital, cloud, AI, and enterprise technology workloads.