[Featured Stock] Market Kurly's Potential US Listing Within the Year... SK Networks Holding Shares Up 5%

[Asia Economy Reporter Lee Seon-ae] SK Networks is showing an upward trend as buying interest flows in amid the possibility of Market Kurly's U.S. listing.

As of 9:53 a.m. on the 12th, SK Networks is trading at 5,520 KRW, up 5.15% from the previous day. During the session, it rose to 5,540 KRW. SK Networks holds a 2.4% stake in Market Kurly. Following Coupang's spectacular listing on the New York Stock Exchange in the U.S., the Wall Street Journal (WSJ) reported on the 11th (local time) that Market Kurly is also considering a listing within this year. According to the report, Market Kurly's CEO Kim Seul-ah said in an interview that she is discussing plans for a listing within the year with financial experts. CEO Kim introduced that she personally tastes all the products carefully selected and provided by Market Kurly, and plans to continue focusing on the food sector rather than expanding the business into other product areas.

The Journal cited internal Market Kurly data, reporting that the repurchase rate of Market Kurly users is 60%, much higher than the industry average of 29%. It noted that South Korea's online shopping market, the fifth largest in the world, is expected to grow 11% this year to reach $116 billion, compared to last year, highlighting the strength of the Korean online market such as stable delivery through its own logistics system. Although the U.S. e-commerce company Amazon is expanding its internal logistics system, it still relies heavily on external services such as UPS and the U.S. Postal Service (USPS) for a significant portion of its deliveries.

Meanwhile, Coupang, listed on the New York Stock Exchange (NYSE) on the same day, closed the session at $49.25, up 40.71% from the offering price.