Naver, Kurly Strategic Alliance: Platform-Curation Synergy Expected

The e-commerce market is changing at a dazzling speed, and at its center, fresh food delivery has become a key battleground. Amidst these tumultuous waves, Naver and Kurly are joining hands, signaling a new tectonic shift. Naver plans to strengthen its fresh food competitiveness by bringing Kurly into its shopping app 'Naver Plus Store' within this year. In its fierce competition with Coupang, the number one e-commerce player in Korea, Naver's strategy is to fill its fresh food sector, which has been identified as a weakness, with Kurly's unique premium curation capabilities and proven dawn delivery infrastructure. This also strongly takes on the nature of an 'anti-Coupang alliance' to counter Coupang, which champions ultra-low prices and cost-effectiveness. Furthermore, Naver is pursuing the acquisition of approximately 10% of Kurly's shares from early investors, aiming to build a strong alliance beyond a simple partnership. Analysts suggest that now is the opportune time to secure shares, given that Kurly's corporate value has decreased from a past 2.9 trillion won to around 633.5 billion won. From Kurly's perspective, by utilizing Naver's overwhelming traffic, search-based shopping experience, and AI recommendation system, it gains an opportunity to significantly expand sales beyond its own app dependency. Amidst its lowered valuation due to delayed IPO, collaboration with a giant platform like Naver will be a powerful driving force for business expansion and brand awareness enhancement. Currently, the domestic e-commerce market is experiencing heightened crisis due to Coupang's unchallenged dominance and the aggressive penetration of C-commerce players like AliExpress and Temu. Existing e-commerce companies are seeking ways to survive and responding in their own ways. Amidst such upheavals, the 'complementary alliance' between Naver and Kurly has the potential to maximize synergy between a platform company and a specialized commerce company, shaking up the market landscape. This collaboration is expected to be a significant turning point that will reshape the future of fresh food delivery and even change the landscape of our dining tables. The next chapter of the e-commerce market has already begun.