Naver Is Top Ecommerce Platform In South Korea

Naver accounts for 18% of the South Korean ecommerce market

Naver has become the leading ecommerce platform in South Korea, according to a report from Mirae Asset Daewoo Securities. The study revealed that the company posted over 72 million US dollars of revenue in Q2 this year, up more than 20% from Q2 last year. It is also estimated that Naver accounted for 18% of the ecommerce market over the same period in South Korea. The recent growth is helped by its dominance in search, as well as its recently released payment service Naver Pay. Kim Chang-kwon, an analyst involved in the report, said consumers were now “making their buying decisions through Naver”, before adding that its influence on the market would only grow as time went on. 

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