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| 컬리 물류센터. (사진=연합뉴스) |
[Alpha Biz= Kim Jisun] As Coupang continues to face prolonged headwinds following a personal data breach in November last year, rival e-commerce platforms including Naver are increasingly capturing market share, raising the possibility of a structural shift in the industry.
According to industry sources on May 6, Naver decided to invest an additional KRW 33 billion in Kurly, increasing its stake from 5.1% to 6.2%. Kurly plans to use the funds to expand its logistics infrastructure and pursue new business initiatives. The investment is widely seen as part of Naver’s broader push to strengthen its commerce segment.
Naver believes that “Kurly & Mart,” a joint service launched with Kurly in September last year, has absorbed part of the fresh food delivery demand previously dominated by Coupang in the wake of the data breach. A Naver official said the service is generating synergies in logistics and grocery demand, adding that the latest investment is expected to further enhance delivery competitiveness as Kurly’s logistics subsidiary is integrated into Naver’s logistics alliance.
User growth data also underscores the shift. According to WiseApp·Retail, Naver Plus Store’s monthly active users (MAU) reached 8.39 million last month, up 45.1% from 5.78 million in November last year. In contrast, Coupang’s MAU declined by 3% over the same period. Other platforms, including Temu and SSG.com, also posted MAU increases of 6.1% and 12.3%, respectively, benefiting from Coupang’s setback.
Naver’s commerce momentum is reflected in its first-quarter earnings. The company reported platform revenue of KRW 1.8398 trillion, up 14.7% year-on-year. Within that, the service segment—which includes Naver Plus Store, membership, and N Delivery—grew 35.6%, also rising about 2% from the previous quarter. SK Securities noted in a recent report that Naver has been benefiting from customer churn at Coupang since late last year, with increases in membership users and transaction volume.
Naver CEO Choi Soo-yeon also reaffirmed the company’s commitment to expanding its commerce business. During an earnings call on April 30, she announced plans to introduce unlimited free shipping tied to Naver Plus membership, priced at KRW 4,900 per month, as part of efforts to strengthen delivery competitiveness.
Industry observers expect competition in the e-commerce market to intensify further in the second half of the year, as traditional offline retailers such as Shinsegae and Lotte accelerate their online grocery strategies. SSG.com has already been capturing fresh food demand alongside Naver, while Lotte Mart plans to launch its Ocado-powered logistics center within the year to boost delivery capabilities.
Meanwhile, platforms such as Gmarket and 11st are focusing on expanding their share in non-food categories. Gmarket reported a 10% increase in average order value and a 12% rise in transaction volume in March compared to a year earlier. Both companies are also planning to scale up cross-border e-commerce platforms this year as part of their growth strategies.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
