NHN Cloud CEO raises NHN stake as AI business grows

By Maekyung News Service

NHN Cloud CEO Kim Dong-hoon has purchased 140.98 million won ($104,000) worth of shares in parent company NHN, a move seen as signaling confidence in the outlook for its artificial intelligence infrastructure business.

NHN said in a regulatory filing Tuesday that Kim acquired 2,660 shares through an open-market purchase on Sept. 18.

He paid 53,000 won per share. The purchase increased his holdings from 7,340 shares to 10,000 shares.

The transaction is being interpreted as reflecting Kim’s commitment to management accountability and confidence in NHN Cloud’s growth prospects.

NHN Cloud operates conventional cloud services as well as AI infrastructure businesses, including the provision of graphics processing unit capacity through AI data centers.

The subsidiary’s second-quarter revenue surged 85.3 percent from a year earlier amid rapidly growing demand for AI infrastructure, establishing it as one of NHN’s core businesses.

NHN Cloud began generating meaningful AI infrastructure revenue this year through its data center in Seoul’s Yangpyeong area. It plans to secure an additional 30 megawatts of AI data center capacity by next year.

Separately, NHN’s major shareholding report disclosed Tuesday that Lee Su-min, the eldest son of NHN Chairman Lee Joon-ho, sold his entire holding of 1 million NHN shares between July 6 and Aug. 4.

Of those shares, 971,000 were acquired through a block trade by JLC Partners, a private company controlled by the chairman. The transaction therefore did not change the founding family’s overall control of NHN.

Lee Su-rin, the chairman’s second daughter, continues to hold 1 million NHN shares, representing a 3.09 percent stake.

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