(Photo provided by Shinsegae)
While Shinsegae Group and Naver exchanged shares, the securities industry generally evaluated that it is a combination that is expected to generate synergy between the two sides.
According to the electronic disclosure of the Financial Supervisory Service on the 17th, Shinsegae Group and Naver on the previous day signed a business agreement to exchange shares worth 250 billion won and strengthen all-round cooperation such as commerce, logistics, and membership.
Lee Jin-hyup, a researcher at Yuanta Securities, said, “We have laid the foundation for complementing each other’s insufficient capabilities with the two companies with certain strengths. We are looking forward to a strategic plan that will be materialized in the future.”
“Expanding e-commerce business and securing IT competitiveness through blood alliances. Through the exchange of shares between Shinsegae Group and Naver, the collaboration with Naver, centered on SSG.com, the Shinsegae Group’s e-commerce business, will proceed.” Among online shopping operators, SSG.com, which has strong competitiveness, will be able to increase the competitiveness of Naver shopping.”
“Naver will be able to secure offline consumer data, which has been lacking so far, through the Shinsegae Group, which has an offline base through the exchange of shares with the Shinsegae Group,” he said. “We will be able to expand services such as Naver Pay.” Added.
Young-hoon Joo, a researcher at Eugene Investment & Securities, said, “Through the strengthening of the shopping service, the fresh food sector, which Naver has been pointed out as a weak point, is expected to improve.”
Researcher Joo predicted, “As Naver Pay can be used in offline stores of Shinsegae Group, Naver Pay transactions will increase in the offline area, and membership services such as Naver Plus membership and Shinsegae Point integration will be strengthened.”
In particular, Lee Ji-young, a researcher at NH Investment & Securities, determined that Shinsegae International, E-Mart and Shinsegae, and Naver will benefit in the order of the stake exchange.
“Shinsegae International is a company that distributes the largest number of luxury brands in Korea, and it will be able to significantly expand its sales channels through the Naver platform in the future,” Lee said.
The stock price of related stocks on this day closed with Naver (-0.52%), Shinsegae (-0.53%), and E-Mart (-2.20%) compared to the 2.44% increase in Shinsegae International.