Kurly Secures 33 Billion Won Investment from Naver to Strengthen Strategic Partnership

Kurly, the pioneer of 'dawn delivery' in South Korea's e-commerce landscape, has announced a significant strategic move, securing 33 billion won through a capital increase allocated to Naver. This investment, detailed in a public disclosure on the 6th, involves Naver acquiring 498,882 new common shares, which will increase Naver's stake in Kurly to 6.2%. This move is more than just a financial transaction; it represents a deepening of the strategic alliance between the two tech giants.

The funds raised are earmarked for bolstering Kurly's operational capabilities, specifically through the expansion of its logistics infrastructure and the pursuit of new business initiatives. Kurly CEO Kim Seul-ah expressed optimism, stating that this investment will serve as a catalyst for enhanced collaboration and the creation of substantial synergies between Kurly and Naver. This partnership is expected to drive remarkable growth for both companies.

This latest capital infusion builds upon the existing relationship established in April of the previous year. Since then, the companies have launched 'Kurly en (N) Mart' on Naver's Plus Store, an online grocery section, and Kurly's logistics subsidiary, Kurly Next M, has been handling the 'dawn delivery' service for products sold on Naver's Smart Store and Brand Store. The continued integration and investment signal a strong commitment to leveraging each other's strengths in the competitive South Korean e-commerce market.

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With this investment as a starting point, the two companies will further strengthen their cooperative relationship as strategic partners, create tangible synergies, and achieve leapfrog growth.