[Asia Economy Reporter Buaeri] Naver has launched an annual subscription product for the 'Naver Plus Membership.'
According to Naver on the 21st, the 'annual membership' maintains the same benefits as before while lowering the subscription price for users who consistently use the membership.
The Naver Plus annual membership can be subscribed to for 46,800 KRW. This is 20% cheaper than using the monthly membership for 12 months (58,800 KRW). Users can select the 'annual subscription' option during the membership sign-up process.
Members of the 'Naver Plus Membership' can earn up to 5% rewards (including a basic purchase reward of 1%) based on their monthly purchase amount when paying with Naver Pay on Naver services such as shopping and reservations, and enjoy digital content benefits.
Digital content benefits include 49 Naver Webtoon and Series Cookies, one free coupon for a Naver Series On movie, and the option to choose one benefit from the Naver Content Experience Pack.
The 'Naver Content Experience Pack' provides all five service vouchers: ▲300 plays on Vibe ▲20 Webtoon and Series Cookies ▲3,300 KRW cash for Series On movies and broadcasts ▲100GB usage voucher for My Box (formerly Naver Cloud) ▲discount voucher for renting audiobooks on Audioclip.
Naver plans to leverage the launch of the annual membership to secure more loyal users who use Naver Plus Membership long-term and aims for a 'lock-in' effect to retain users. Since its launch in June last year, Naver Plus Membership has rapidly grown, securing about 2.5 million members in approximately six months.
A Naver official explained, "The transaction amount of membership subscribers is five times that of non-subscribers," adding, "Furthermore, this trend creates a virtuous cycle that leads to increased sales and growth for small and medium-sized enterprises (SMEs) and creators active on Naver."
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