Nomura Expands Alternative Assets Strategy With Focus on Private Debt Acquisitions 
MetaX IPO Soars as China’s AI Chip Stocks Ignite Investor Frenzy 
Robinhood Expands Sports Event Contracts With Player Performance Wagers 
FAA Unveils Flight Plan 2026 to Strengthen Aviation Safety and Workforce Development 
Adobe Strengthens AI Strategy Ahead of Q4 Earnings, Says Stifel 
Amazon in Talks to Invest $10 Billion in OpenAI as AI Firm Eyes $1 Trillion IPO Valuation 
SoftBank Shares Slide as Oracle’s AI Spending Plans Fuel Market Jitters 
Strategy Retains Nasdaq 100 Spot Amid Growing Scrutiny of Bitcoin Treasury Model 
Coca-Cola’s Proposed Sale of Costa Coffee Faces Uncertainty Amid Price Dispute 
SpaceX Reportedly Preparing Record-Breaking IPO Targeting $1.5 Trillion Valuation 
Australia Enforces World-First Social Media Age Limit as Global Regulation Looms 
Intel’s Testing of China-Linked Chipmaking Tools Raises U.S. National Security Concerns 
CMOC to Acquire Equinox Gold’s Brazilian Mines in $1 Billion Deal to Expand Precious Metals Portfolio 
Microsoft Unveils Massive Global AI Investments, Prioritizing India’s Rapidly Growing Digital Market 
HSBC’s $13.6 Billion Take-Private Offer for Hang Seng Bank Gains Board Backing 
Nvidia Weighs Expanding H200 AI Chip Production as China Demand Surges 
Korea Zinc Plans $6.78 Billion U.S. Smelter Investment With Government Partnership 
Naver Corp. launched its closed beta service for video streaming, CHZZK. With this, the company officially joined the game streaming scene in South Korea.
Naver's entrance into game streaming is perfect timing as the US-based interactive live-streaming service Twitch just withdrew from the country. Its exit created a big opening for CHZZK since this is the other option when users switch to services.
Naver to Go After YouTube and AfreecaTV
Naver said on Wednesday, Nov. 6, that it introduced its video streaming service to take over the growing gaming and live streaming market. It added that this move is part of its strategy to bring more people to the platform.
According to The Korea Times, as Twitch suddenly announced its plan to leave the Korean market, it will make Naver's CHZZK the new direct competitor of YouTube and AfreecaTV. With Twitch now out of the picture, Naver will focus on its new rival platforms and will work on building up its presence.
Twitch explained it decided to end its services in the country due to the increased cost of operations. It will officially cease its operations on Feb. 27, 2024.
CHZZK's Streaming Service Beta Run and Launch
Naver will test its game streaming feature for four days by broadcasting a game tournament featuring "League of Legends" and "StarCraft" matches. This will be viewed by 380 company employees who will also participate as players. This test run will end on Dec. 8.
"We are conducting a closed beta test targeting our employees for our game streaming service from Tuesday," the company's spokesperson said in a statement. "Streaming services are an aspect of strengthening community functions. We also view this streaming service as a community feature. To provide a quality streaming service, we have already secured various video-related technologies."
Korea Joongang Daily reported that Naver will release the open beta version of CHZZK on Dec. 19 and scheduled the public launch in 2024. With the new platform's user-friendly interface and tailored game broadcasting for users, it is expected to attract gamers immediately.
"If Naver can attract local Twitch streamers and attain user traffic, Chzzk's market value is expected to go over 1 trillion won," Kim Ha Jeong, a Daol Investment & Securities analyst, said. "The new platform is also expected to spill over to Naver's earnings as the service expands by integrating Naver's other businesses in advertising and commerce, as well as its online communities."
Photo by: Naver Corp Press Room
