[서울신문] Shinsegae-Naver alliance catches Coupang’s’rocket shipping’ with’shrug shipping + α’

Shinsegae and Naver exchanged 250 billion won worth of stocks

Shinsegae Group, the strongest player in offline distribution, and Naver, the online powerhouse, joined hands in a way of exchanging shares. As a result, the competition for supremacy in the e-commerce (e-commerce) market is also expected to intensify. In the Yanggang landscape of Naver and Coupang, a company that acquires eBay Korea is expected to chase.

Shinsegae Group and Naver decided to exchange stocks worth 250 billion won by holding a business alliance agreement signing ceremony at JW Marriott Hotel in Gangnam-gu, Seoul on the 16th. E-Mart CEO Kang Hee-seok and Naver CEO Han Seong-sook signed a business agreement, and the contents of the agreement passed the board of directors of both companies in an instant. The actual stock exchange takes place on the 17th. E-Mart will exchange 2.96% of its stake worth 150 billion won in Naver with 0.24% of Naver, and Shinsegae will exchange 6.85% of Shinsegae International’s stake of 100 billion won with 0.16% of Naver. The alliance was formed after two months of preparations after meeting vice chairman Jeong Yong-jin of Shinsegae Group and Naver Global Investment Manager Lee Hae-jin (GIO) at Naver headquarters in Seongnam, Gyeonggi-do in January.

Shinsegae and Naver have a strategy to combine their strengths and respond to Coupang, which is causing a sensation with’rocket delivery’. ‘Shipping’, one of Naver’s weaknesses, can be supplemented with Shinsegae’s’Sep Shipping’. In addition, if Naver’s’Shopping’ function for purchasing food and daily necessities is combined with Shinsegae’s’Sec Delivery’, rapid delivery can be expected throughout the country. E-Mart and Shinsegae Department Store, which have strengths in the distribution and delivery of fresh food, have 7300 bases nationwide, so it is possible to implement’immediate delivery’ service that delivers early and same day delivery as well as delivery within 2-3 hours after ordering. It is expected to set.

Cooperation is also expected in’Live Commerce’, where products are viewed in real-time and immediately purchased. If Naver Shopping Live introduces bags and clothing of luxury department stores that have not yet settled on the online sales platform, a new sales market that was not previously available could be opened.

A plan to provide free early morning delivery service to’Naver Membership’ users who pay a certain amount each month and receive benefits, plan to integrate’Naver Membership’ and’Shinsegae Point’ benefits, and Naver’s simple payment service (Naver Pay) at E-Mart offline stores. The plan to use is also under discussion.

In the current e-commerce market, new editions are in full swing. It is known that SK Telecom, MBK Partners, and Lotte participated in the preliminary bidding of eBay Korea, which has Gmarket, Auction, and G9. SK Telecom is preparing to strengthen the service of ’11th Street’ in cooperation with the US Amazon, which is called the’e-commerce dinosaur’. An industry insider said, “The e-commerce market has expanded rapidly due to the impact of Corona 19.” “I am most concerned about who will take the lead as a counter-horse of Coupang, whose market capitalization is close to 100 trillion won due to the recent listing on the US stock market.”

Reporter Jaehee Han [email protected]

Reporter Myeong Hee-jin [email protected]