What was changed
Naver was South Korea's dominant portal, but by 2017 it needed to behave less like a founder-centered search site and more like a technology platform. Shareholders confirmed Han Seong-sook as CEO while co-founder Lee Hae-jin stepped down as board chairman.
The governance change was unusually explicit for Korea: an outside chairman, Byun Dae-kyu, took the board role, Han became the first woman to lead the company, and Lee remained involved in new businesses rather than controlling the operating agenda.
Naver's 2017 results showed the handoff did not stall the business. The company reported annual operating revenue of ₩4.6785T, up 16.3%, operating profit of ₩1.1792T, and net income of ₩770.1B.
What it achieved
Naver reported 2017 revenue of ₩4.6785T, up 16.3%, and operating profit of ₩1.1792T.
Why it worked
The decision separated founder influence, board oversight, and operating management.
Han had run core mobile services, so the handoff matched the platform shift Naver needed.
Lee's new role preserved his global-network value without making him the execution choke point.
What can be applied
Founder succession can create strategic room when the founder moves to new-business search instead of staying as the operating bottleneck.
Aftermath
Naver kept investing in technology, creators, and overseas platforms after the 2017 handoff. Lee later returned as board chair in 2025 for the AI era, but the 2017 move remains the clean break that proved Naver could operate beyond its founder's chairmanship.
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