[Asia Economy Reporter Hyungsoo Park] Korea Center is showing strong performance. The expectation of benefits from the expansion of untact (contactless) consumption appears to have influenced the stock price.
As of 2:44 PM on the 13th, Korea Center is trading at 16,500 KRW, up 4.43% from the previous trading day.
Research Alme predicted high growth for Korea Center due to the expansion of untact consumption. They suggested a target price of 21,400 KRW.
Researcher Hyukgi Lee from Research Alme introduced, "Korea Center is an e-commerce company that has secured the most overseas direct logistics centers domestically, with 8 centers in 6 countries and cities, making it a representative beneficiary of the expansion of untact consumption."
He continued, "It is noteworthy because it provides total solutions such as product sourcing, shopping mall construction, and logistics services necessary for online shopping mall founders."
Last year, the total transaction amount of online shopping increased by 18.6% compared to the previous year, reaching 134 trillion KRW, and the size of the overseas direct purchase market grew by 22.2% to 3.6 trillion KRW. The e-commerce (online commerce) market is growing rapidly.
Researcher Lee analyzed, "Korea Center's overseas direct purchase agency business 'Malltail' expanded its services this month to 41 famous global shopping malls including Amazon," and "the number of operations of the social network service (SNS) shopping solution 'MySoho' exceeded 40,000 last year."
He also added, "They hold a 64% stake in Podbbang, the number one podcast market share holder in Korea," and "Podbbang is currently valued at around 150 billion KRW in the over-the-counter market and is preparing for an initial public offering (IPO) next year."
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