Naver acquired part of Kurly's existing shares (already issued stock).
The acquisition is part of Naver's move to further strengthen its collaboration with Kurly, following a decision made after onboarding Kurly to the Naver Plus Store on the 5th and launching the "Kurly N Mart" service.
In 2020, Naver expanded its logistics network through an equity exchange worth 600 billion won with CJ Logistics, building a delivery network rivaling Coupang's Rocket Delivery. In this way, Naver has continued to make strategic investments to strengthen its competitiveness.
With Coupang dominating the domestic e-commerce market, a joint venture between Shinsegae and Alibaba has received conditional approval. Accordingly, the industry is assigning meaning to Naver's investment beyond simple collaboration and views it as part of the competition for leadership. Naver's investment is said to be about 50 billion to 60 billion won.