Naver has acquired a portion of existing shares (already issued stock) in Kurly.
On September 23, Naver announced, "We have acquired some existing shares to strengthen strategic collaboration between the two companies." According to industry sources, the investment is estimated to be between 50 billion and 60 billion won.
On September 5, Naver began listing Kurly on its shopping app, Naver Plus Store, and launched the online grocery shopping service "Kurly N Mart," further strengthening its partnership with Kurly.
Naver has been utilizing CJ Logistics' delivery network since it began a 600 billion won equity swap with CJ Logistics in 2020. As a result, Naver has expanded its logistics network to a level comparable to Coupang's Rocket Delivery.
The domestic e-commerce market, previously dominated by Coupang, is now shaping up to be a three-way competition. Previously, the Fair Trade Commission conditionally approved the joint venture between Shinsegae and Alibaba.
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