Investment in Pioneer in SNS Sector
Samsung Electronics will invest in “Cyworld” that was popular as a representative social network service (SNS) in Korea in the 2000s.
According to the information technology (IT) industry on August 22, Samsung Venture Investment, a start-up investment company, recently decided to invest in Cyworld. The volume of the investment was not confirmed but is estimated at 5 billion won.
Samsung's investment is to secure news, music service or SNS technology and know-how related to AI assistant service.
Samsung Electronics is offering an artificial intelligence assistant service by loading the smartphone Galaxy S8 with voice recognition artificial intelligence assistant Bixby. A Bixby service user can use banking services and to check messages on Kakao Talk or Facebook Messenger with voice commands.
The internet industry expects that Samsung’s investment will be made to secure contents and technology such as news and music services to be provided by Bixby through Cyworld.
As Cyworld played a pioneering role in SNS, it is also said that new services may be introduced based on related technologies by Cyworld’s human resources.