NAVER, TCS Sign MoU To Explore India’s Mapping Services Market

South Korea-based NAVER Corp has signed an agreement with Tata Consultancy Services (TCS) to look at opportunities in India’s mapping services segment.

NAVER Corp. runs one of South Korea’s top search portals, called NAVER. It operates across several areas. These include commerce, fintech, content, community platforms, and map-based services.

The Memorandum of Understanding (MoU) was signed at the India-Korea Business Forum as part of a broader set of business agreements between companies from the two countries.

What Does The Partnership Involve?

The two companies plan to work together to study how NAVER’s mapping services can be introduced in India. At present, NAVER develops and manages its platforms largely from Korea.

TCS is expected to support this effort from India, using its existing technology and delivery capabilities. The idea is to combine NAVER’s products with local execution support.

India-Based Centre Likely

As part of the arrangement, TCS may set up a dedicated delivery centre in India. This unit will work alongside NAVER’s teams and handle specific operations from here.

Ownership of products and platforms will remain with NAVER. TCS’s role will be more on the services and support side.

The collaboration could also cover areas like cloud, AI, and enterprise systems. In addition, TCS may help NAVER understand the Indian market better before any large-scale rollout.

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Why Does This Matter For Investors?

The location and mapping services in India have been growing at a rapid pace largely due to the increase in digital adoption and the need for mobility. This development has led to the arrival of global tech giants in the sector.

For TCS, it adds another international client engagement in the digital services space.

Sources:

NDTV Profit

CNBC TV18