Korean tech giant Naver is investing KRW40 billion/US$35.45 million in CJ ENM’s standalone streaming platform, TVing.

The new backing, which follows last year’s partnership, gives Naver a 15% stake in TVing.

The investment strengthens Naver’s involvement in content creation, and follows its acquisition of crowd-sourced storytelling platform, Wattpad, earlier this year.

TVing has upped its original content initiatives, starting with "Girls' High School Mystery Class” earlier this year and an alliance with programming powerhouse JTBC Studios in 2019/20.

TVing, which has an eye on international expansion, says it plans to produce more than 30 original shows this year and has said it will have 100 original titles by 2023.

In January this year, TVing promised to invest KRW400 billion/US$363 million in content in the next three years.