Collaboration with Netflix, Xbox, Kurly, Uber, and More
Easy Access and Maximized Strengths Through Naver
Naver is expanding its platform ecosystem by forming partnerships with companies that have strong competitiveness in various sectors such as online video services (OTT), mobility, and gaming. The company is also seeking synergies by combining fintech and virtual assets. This integration allows users to access content, shopping, payments, and financial services all at once through Naver.
On the 25th, at Naver headquarters 1784 in Seongnam, Gyeonggi Province, Choi Suyeon, CEO of Naver (left), and Kang Daehyun, CEO of Nexon, are posing for a commemorative photo after signing a strategic business agreement. Provided by Naver
According to Naver on September 30, Choi Suyeon, CEO of Naver, signed a strategic business agreement with Kang Daehyun, CEO of Nexon, at Naver headquarters 1784 in Seongnam, Gyeonggi Province on the 25th. The plan is to combine game viewing and gameplay by leveraging platforms, content, and data, thereby providing a new experience.
Under this agreement, Naver and Nexon will integrate their user accounts and payment data. Users will be able to access their Nexon accounts via Naver login, and when charging Nexon Cash, payments can be made through Naver Pay either as a one-time transaction or as a recurring reservation. In addition, Nexon games will be featured in a customized manner on Naver's PC main page and mobile content tabs.
Naver's streaming platform Chzzzyzik and Nexon's game intellectual property (IP) will also collaborate. Through Chzzzyzik, game leagues and major events will be broadcast, while offline leagues will feature goods sales and Naver Reservation services. During gameplay, users can easily switch to Chzzzyzik by pressing the live streaming button, or conversely, start playing a game while watching a live broadcast on Chzzzyzik by clicking the play button.
A Naver representative stated, "We have been collaborating with Nexon by broadcasting Nexon's football event match 'Icon Match' on Chzzzyzik and selling goods through our subsidiary Cream," adding, "With Naver having secured World Cup and Olympic broadcasting rights through 2032, we can expect a variety of marketing opportunities with Nexon's games such as FC Online and FC Mobile."
Naver's partnerships are crossing boundaries. By leveraging Naver Plus Membership, the company has expanded collaborations from Netflix and Microsoft (MS) PC Game Pass to Kurly. The partnership with Kurly addresses the criticism that Naver is weaker than Coupang in fresh food delivery. At a briefing on the 9th, Naver also announced plans to link Uber's membership service, Uber One, to Naver Plus Membership through a partnership with Uber Taxi. Uber One is a service that allows users to earn 5-10% of their Uber Taxi fare as credits. These services can be selected or changed on a monthly basis by subscribing to Naver Plus Membership for 4,900 won per month.
Naver has established a virtuous cycle by increasing the appeal of its membership subscriptions, which in turn boosts commerce activity. Thanks to the growth in transaction volume of the Naver Smart Store service, Naver Commerce's on-platform transaction volume in the second quarter of this year increased by 9.0% compared to the same period last year. Unlike Coupang, which provides delivery, shipping, and OTT services on its own, Naver emphasizes mutual cooperation with its partners. Netflix, too, has benefited from this collaboration, known as 'Nenet,' by attracting new subscribers after a period of stagnation.
Meanwhile, the merger between Naver Financial and Dunamu is fueling expectations that Naver will become a major player in the financial and virtual asset markets. Naver has been expanding on- and offline financial payments through Naver Financial (Naver Pay). Last month, Dunamu unveiled its own blockchain mainnet, Giwa Chain, signaling the possibility of issuing a stablecoin. The combination of the two companies is expected to accelerate the globalization of Naver's services. Stablecoins are considered suitable as payment and remittance tools because of their fast transaction speeds and low price volatility.
A Naver representative said, "We have strengths in platforms, data, and technology. By collaborating with companies that have expertise in other fields, we aim to utilize these strengths even better," adding, "We will continue to work with our partners so that each can excel in what they do best."
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