Naver Supports Payment Fees for Small Business Owners in Lesson Industry Struggling Due to COVID-19

Implementation of Payment Fee Support Program from April to June

[Asia Economy Reporter Jin-gyu Lee] Forest, an in-house independent company (CIC) operating Naver Shopping, announced on the 4th that it will establish a payment fee support program for small business owners in the arts and physical education lesson industry who are struggling due to the novel coronavirus infection (COVID-19).

Since last year, Naver Shopping has been supporting the arts and physical education lesson industry, including exercise, art, and music, by helping them develop online sales channels and promote their services through Smart Store. Due to difficulties in attracting customers caused by the spread of COVID-19, Naver Smart Store will implement a temporary payment fee support program for small business owners in the arts and physical education lesson industry from April to June.

In addition, not only new entrepreneurs but also existing sellers who are already benefiting from the Smart Store seller growth support program called 'Start Zero Fee' can receive overlapping benefits. The Start Zero Fee program offers a one-year exemption from payment fees for early entrepreneurs, and in this case, 3% of the monthly transaction amount is provided as 'Seller Support Points,' which can be used for promotional marketing costs targeting Smart Store customers.

Jung Hyun-soo, the leader in charge of arts and physical education lesson products at Naver Smart Store, said, "We have prepared a direct payment fee exemption support measure to help small business owners who are struggling with business operations due to the prolonged COVID-19 pandemic. We will work together to expand the support scope to not only existing sellers but also new entrants and early entrepreneurs to revitalize transactions in the industry and support business normalization."

Meanwhile, Naver recently donated 2 billion KRW to the Community Chest of Korea to quickly recover from social damages caused by COVID-19.