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Photo courtesy of Yonhap News |
[Alpha Biz= Kim Jisun] Naver is accelerating efforts to expand its shopping ecosystem by strengthening partnerships through its integrated membership services, in a direct challenge to Coupang.
A key example is Isaac Toast, which will adopt Naver’s integrated membership system starting June 22. Customers ordering via the app linked to Naver Place will earn 2% of purchases as Naver Pay points, while coupons and benefits will be unified within Naver’s platform. This reflects the rollout of “Place Membership,” which connects offline stores with Naver’s ecosystem to drive traffic and improve customer engagement.
Naver is also strengthening its commerce platform, Naver Plus Store, through promotions such as offering an additional 10% in Naver Pay points for purchases from major brands. At the same time, it is expanding offline payment acceptance, with Naver Pay now usable at around 120,000 locations nationwide.
This integrated strategy—linking shopping, payments, and location-based services—has driven rapid growth. Naver Plus Store’s monthly active users rose sharply, while platform revenue and payment volume also posted strong double-digit increases in the first quarter.
Meanwhile, Coupang is regrouping after posting an operating loss of KRW 354.5 billion in the first quarter, despite continued revenue growth. While most of its paid “Wow” members have returned following a data breach incident, the company is expected to intensify efforts to defend its market position.
As Naver expands its alliance-driven ecosystem and Coupang seeks to regain momentum, competition between the two e-commerce giants is expected to grow increasingly fierce.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
