Yahoo has renewed their partnership with Naver, Korea’s largest portal. Yahoo will continue to be, in a multi-year contract, the exclusive provider of sponsored search listings for search queries on the Naver portal and through Naver’s toolbar application. This news comes days after Daum dropped Yahoo for Google, Daum is Korea’s second largest portal.
Below is the full press release:
NAVER AND OVERTURE KOREA RENEW SEARCH MARKETING DISTRIBUTION PARTNERSHIP
SEOUL Korea, December 15, 2006 – Naver, Korea’s number one search portal
and Overture Korea, a leading provider of search marketing products and
services, announced today that they have renewed their strategic search
marketing partnership. Overture will continue to be the provider of
high-quality sponsored search listings in response to general search
queries on Naver and queries from Naver’s toolbar application.
“Naver’s leadership position as Korea’s most visited online destination
provides opportunities for our advertisers. We are proud to continue
working with Naver to connect businesses and consumers at the point of
search,” said Kim James Woo, Regional Vice President of Yahoo! Search
Marketing in Asia and CEO of Overture Korea. “Our priority is to
deliver high quality leads to our advertisers and relevant results to
users, and this agreement enables us to drive those efforts even
The deputy managing director of e-Biz from Naver, Min-Soo, Yeo said,
“This re-contract gives us a great opportunity to reaffirm the mutual
trust that we built together with an effort to develop domestic search
ad market. NHN will continue to work closely with Overture to protect
advertiser’s rights and interest and provide a valuable ad services to
the Korean market.
Overture provides search marketing products and services to hundreds of
thousands of businesses worldwide.
For more information about Naver, please visit: http://www.naver.com/.
For more information about Overture Korea’s offerings, please visit:
Naver(www.naver.com ), the search engine of NHN
Corp is the number one search portal in Korea which has 16 million of
daily visitors and its homepage features 850 million page views. Since
its inception in June 1999, Naver has taken a leading role in developing
Korea’s search services industry through the search engines invented by
in-house technologies, such as Comprehensive Search, Knowledge Search
and Book Text Search. Especially the Knowledge Search which started
operating in October 2002 provides data base of knowledge based on
experiences and senses of internet users. It is settled as the new
paradigm of search service.