Jeon Dong-jin, CEO of One Store, "Global success is the current mission... Will break Google and Apple monopoly"

Successful Overseas Expansion with IPO Goal
Customized Services through Localization Strategy

Jeon Dong-jin, CEO of One Store, is speaking in an interview held on the 28th.

"Success in the global market and an initial public offering (IPO) are the missions I hold."

Native application market One Store is embarking on global expansion, starting with Taiwan. One Store expects to monetize and expand its ecosystem through joint ventures and localization with local partners. If the overseas expansion succeeds, it plans to connect this to an IPO in the future.

On the 28th, Jeon Dong-jin, CEO of One Store, said in an interview, "The most important task right now is to establish the app store business in Taiwan, where we have officially declared our entry," adding, "We aim to provide more benefits to customers and game companies in opposition to the monopoly of Google and Apple."

He continued, "Of course, the domestic app market is large, but when the platform gradually grows overseas, it can be recognized in the IPO market." One Store plans to pursue an IPO within the next 2 to 3 years.

Earlier that day, One Store announced that it is seeking global expansion based on a localization strategy, launching the joint app market 'Kwai Le Wan Store' with Taiwan's largest game publisher 'HappyTuk' as the starting point. After Taiwan, One Store plans to enter key hubs such as the United States, Europe, and Japan, and then expand to surrounding markets. The goal is to launch in the U.S. within this year and in Europe and Japan by 2025, with discussions ongoing with local partners in each country.

Jeon Dong-jin, CEO of One Store, attended a press conference held on the 28th at the SKT Tower Suprex Hall in Jung-gu, Seoul, and announced that the company is officially starting its overseas expansion based on optimized "Hyper Localization" for the local market. Photo by Jo Yong-jun jun21@

CEO Jeon said, "The local partner handles marketing to gather users and shares the revenue," adding, "Development costs are covered by One Store, but local marketing expenses are borne by the partner."

To expand globally, One Store is strengthening cooperation not only with local partners but also with Epic Games, famous for 'Fortnite.' Through this, it plans to compete with Google and Apple. Epic Games is currently negotiating with One Store for the listing of games like Fortnite and is also engaged in litigation in the U.S., claiming Apple’s App Store monopoly and abuse of market dominance.

Additionally, One Store intends to establish a similar structure overseas as it has in Korea by cooperating with telecom companies. Major shareholders of One Store include the three domestic telecom companies, supporting the use of telecom points and more.

CEO Jeon said, "Among the Android devices of the three domestic telecom companies, One Store is basically pre-installed, and telecom software is installed by One Store," adding, "The reason Deutsche Telekom, the largest telecom company in Germany, invested in One Store was because they wanted to secure a foothold in providing app market services."

He added, "Pre-installation on smartphones and such is important overseas," and explained, "To install One Store, you cannot search for it on Google Play, and you have to download it separately from a website, which may even show warning messages. We believe it is right to collaborate with partners who can solve this and are currently negotiating for overseas business cooperation."

However, CEO Jeon said that the speed of overseas expansion could vary depending on app market regulations. When entering the U.S., Europe, and Japan, they will adjust the timing while considering local regulations. He said, "Apple does not open its platform until regulations are in place, so third-party app market businesses are not possible at all," adding, "In Europe, Apple’s behavior was judged as a monopoly, and we see this as both a change and an opportunity."