NAVER has officially entered the e-commerce market's platform competition by launching its own shopping app. The industry is closely watching the impact of NAVER’s e-commerce expansion on the market.
On the 12th, NAVER unveiled the "NAVER Plus Store," marking its official debut as an open-market operator. Having already built a strong commerce platform based on its search capabilities, NAVER is now accelerating its efforts to expand market share with a dedicated shopping app.
Currently, NAVER's Gross Merchandise Value (GMV) stands at KRW 50.3 trillion, which is 1.5 times greater than the combined transaction volume of major domestic open markets such as Gmarket, 11st, and SSG.com. This figure is comparable to Coupang's GMV of KRW 55.086 trillion, which holds a dominant position in the e-commerce market.
As a result, the domestic e-commerce industry is increasingly likely to be reshaped into a duopoly between NAVER and Coupang.
NAVER highlights its strengths, including a shopping experience linked to its search platform, a strong platform infrastructure, and membership benefits such as point accumulation.
NAVER membership subscribers not only receive basic product discounts but also earn 5% of their purchase amount as points, fostering a loyal customer base. However, compared to Coupang, NAVER's biggest challenge lies in its delivery system.
Coupang operates on a direct-purchase and direct-delivery model, with a competitive edge in logistics through its signature "Rocket Delivery" service. In contrast, NAVER relies on an open-market approach, depending on external partners for both sales and delivery. This structural difference makes it difficult for NAVER to close the gap with Coupang’s logistics capabilities.
An industry insider noted, "While NAVER and other e-commerce companies are implementing seven-day delivery and strengthening same-day and next-day shipping, it will be difficult to catch up with Coupang's well-established logistics network in the short term."
NAVER’s full-fledged expansion into e-commerce is expected to impact not only the domestic market but also foreign players. Recently, Chinese online shopping platforms such as AliExpress and Temu have been gaining traction in South Korea. However, NAVER’s market entry could force these companies to adjust their strategies.
In particular, AliExpress’ Korean product specialty store, "K-Venue," may face direct repercussions.
Temu, which has been ramping up its expansion into the Korean market, now finds itself facing NAVER as a formidable competitor.
There are mixed opinions on whether NAVER’s e-commerce expansion can challenge Coupang’s dominance.
Despite NAVER's powerful search-based platform and membership benefits, many believe that unless it can narrow the logistics gap, it will struggle to threaten Coupang’s market share.
Coupang has already invested KRW 6.2 trillion over the past decade to build the country's largest logistics network. By next year, it plans to invest an additional KRW 3 trillion to extend Rocket Delivery coverage to all regions nationwide.
With more than 14 million paid membership subscribers, Coupang’s strong market position will not be easily shaken in the short term.
An industry expert commented, "Ultimately, the key to e-commerce market competition is who can attract and retain more customers. For NAVER to close the gap with Coupang, it will need to make more aggressive logistics investments and develop differentiated service strategies.
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NAVER launches shopping app, making full-scale entry into e-commerce…Head-to-head battle with Coupang
NAVER has officially entered the e-commerce market's platform competition by launching its own shopping app. The industry is closely watching the impact of NAV
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