Naver and Kakao's recent service shutdowns are not just about restructuring; they signal a major strategic pivot into the era of 'AI Agents'.
First, let's look at Naver. Its 'AI Briefing' feature already handles over 20% of searches, proving that users prefer getting summarized information directly within the search bar rather than using a separate app. This success made standalone services like the 'Clova X' chatbot and the 'Cue:' search tool redundant. The logical next step was to consolidate their data and technology. These capabilities are now being absorbed into the upcoming 'AI Tab' and the new 'Shopping AI Agent,' creating a powerful pipeline that moves users from 'search to action.'
Meanwhile, Kakao is taking a different approach. It decisively shut down 'Kakao TV,' which was losing ground to YouTube, and sold its portal 'Daum' to AI startup Upstage. This was a clear resource reallocation. Kakao is now focusing all its energy on its strongest asset: the 'KakaoTalk' messenger. In partnership with Google, Kakao is developing 'Kanana,' an on-device AI that operates directly within the chat app. The core goal is to create an experience where user conversations lead directly to actions like purchases, reservations, or orders, all without leaving the app.
However, despite sharing the same 'AI Agent' narrative, the market is valuing the two companies very differently. Naver trades at a relatively low and stable Price-to-Earnings (P/E) ratio, while Kakao has a much higher P/E, reflecting both high expectations and the pressure to prove its execution. This highlights how crucial it is to demonstrate a clear path to profitability, not just present a compelling idea.
Ultimately, these decisions represent a strategy of focus, with each company playing to its strengths. Naver is building its AI agent around the connection between search and commerce, while Kakao is leveraging its messenger for lifestyle-integrated services. The key thing to watch now is which company will be the first to deliver tangible results.
- Glossary
- AI Agent: An AI that can understand a user's command, create a plan, and perform complex, multi-step tasks on their behalf.
- On-device AI: Artificial intelligence that runs directly on a device, like a smartphone, without needing to connect to a cloud server. It offers faster response times and better privacy protection.
- P/E Ratio (Price-to-Earnings Ratio): A valuation metric calculated by dividing a company's stock price by its earnings per share. It helps determine if a stock is overvalued or undervalued relative to its earnings.