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The South Korean internet technology giant Naver has said it wants to team up with SK Telecom to merge their two app stores.
The South Korean app market is worth an estimated 4.5 trillion won, equivalent to 3.8 billion US dollars, and is currently dominated by the Google Play Store and Apple App Store.
Between them, the American giants account for 80% of the South Korean app market.
Naver hopes that by merging its app store with SK Telecom’s T-Store app store it will create a more competitive apps market in the country.
Naver and SK Telecom have confirmed that they are in talks about a merge, although they have not yet revealed how far negotiations have got apart from saying they have progressed a “substantial extent”.
Naver is the biggest internet company in South Korea. It is most well-known for its search engine of the same name, which accounts for around three-quarters of the search engine market in the country.