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Retail Asia04/10/2022

Naver, the South Korean search giant, announced it plans to acquire secondhand apparel marketplace Poshmark for $1.2 billion in cash. The deal values publicly traded Poshmark’s shares at $17.90 — a 15% premium over today’s closing price — and the companies expect it to close by Q1 2023, subject to approval by Poshmark stockholders and “the satisfaction of […]

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Retail Asia17/09/2020

South Korean online platform Naver has invested in Singaporean classified-ad service Carousell. The US$80 million investment was made by a consortium led by the firm that includes other Korean investment businesses Mirae Asset-Naver Asia Growth Fund and NH Investment & Securities. The completed transaction will elevate Carousell’s value above $900 million and reflects the increased […]

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Retail Asia05/07/2019

Global character brand Line Friends opened its second and largest official US store last Saturday. The new Los Angeles store on Hollywood Blvd, which offers interactive photo zones and signature character merchandise, attracted more than 18,000 visitors on opening weekend. It features a large-scale retail space with a wide array of photo zones and Instagram-ready […]

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Retail Asia04/07/2019

Trends come and go in the retail world, but one which undoubtedly appears to be here to stay is the shift in how consumers now choose to pay for goods and services. Physical cash has played an important part in retail for decades, but a recent announcement involving South Korean internet firm Naver has put […]

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Retail Asia28/06/2019

Visa (NYSE: V), the global payments leader, and LINE Pay Corporation, operator of digital wallet and fintech services on the LINE messaging app, today announced a strategic partnership that will see them create new financial services experiences for their collective user bases of millions of consumers and merchants worldwide[1]. The two companies will collaborate across multiple areas, […]

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Retail Asia01/02/2019

LG Electronics and portal operator Naver Wednesday agreed to jointly develop an advanced guidance robot based on the high-tech mobility platform. LG Electronics and Naver’s R&D subsidiary signed a memorandum of understanding (MOU) to collaborate on research and development of robot technology, expanding on their discussions made during the recent Consumer Electronics Show (CES) in […]

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Retail Asia28/01/2019

Local IT giant Naver announced plans Thursday to make its Naver TV service an open platform where anybody can freely upload videos, pitting it in direct competition with YouTube. The company said it would apply the change during this year’s first half. Originally, only people with more than 300 subscribers on other video platforms were […]

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Retail Asia25/01/2019

Naver said Monday that it has no plans to launch an internet-only bank, shutting down rumors that the IT giant might open the country’s third such bank after K bank and Kakao Bank. “Although we have reviewed [joining] the internet-only bank business, we decided against it and will not attend the information session regarding internet-only […]

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Retail Asia14/01/2019

LG Electronics and Naver are cooperating on the development of robotic capabilities. Their first project will use Naver’s mapping and navigation technology to improve the functionality of LG’s CLOi GuideBot. LG’s guiding robot is currently in operation at Incheon International Airport. It escorts travelers to certain destinations within the facility. Naver Labs, the research and […]

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Retail Asia22/11/2018

Naver Labs and Qualcomm will work together on future technology like robotics and self-driving vehicles, the local IT company said on Tuesday. The two companies signed an agreement on Monday to combine their knowledge and expertise. U.S.-based Qualcomm is a well-known manufacturer of semiconductors and telecommunications solutions. Naver Labs is an affiliate of Korea’s largest […]

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Retail Asia19/11/2018

Naver’s iconic green search bar may one day be a thing of the past – at least in the mobile app. Korea’s most popular portal site is experimenting with a new tool called the Green Dot that allows users to search for information not only by text, but also by voice, location and photos. The […]

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Retail Asia12/10/2018

From indoor navigation using augmented reality to ultra-high definition mapping technology for autonomous driving, South Korean internet giant Naver is developing a range of location-tracking technologies it believes will form the backbone of new offline services in the future. Some of these technologies were unveiled Thursday at Naver’s annual developer’s conference Deview 2018 held in […]

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Retail Asia08/10/2018

South Korean mobile messaging platform Kakao is spinning off its e-commerce unit for further expansion. The new organisation will be Kakao’s largest spin-off, worth about KRW510.3 billion (US$458.6 million) by December. It will take over the operation of the Kakao Gifts, Shopping, Kakao Style and Kakao Farmer services. Kakao has also made plans to acquire […]

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Retail Asia24/09/2018

Naver is contributing 99 billion won ($88 million) to a 100 billion won venture capital fund devoted to fostering and investing in start-ups, the top internet portal announced Tuesday. The fund is being launched by TBT, a venture capital firm founded by Lee Ram, a former CEO of Camp Mobile, a mobile app development subsidiary […]

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Retail Asia27/08/2018

Naver, Korea’s dominant internet portal and search engine, said Thursday it will invest 258.9 billion won ($230.8 million) in its wholly-owned affiliate in France to strengthen its presence in Europe. Naver will acquire 2 million new shares issued by Naver France to help the Paris-based affiliate secure operating capital, a company spokesman said. The company […]

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Retail Asia27/08/2018

South Korean internet service company Naver has invested in Malaysian retail aggregator iPrice. The firm intends to invest an undisclosed amount to fund iPrice’s expansion into the Indonesian market and to improve its platform towards a better user experience. It currently operates in seven Asian countries, serving to compare prices between similar products on different […]

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Retail Asia26/06/2018

Korea’s top portal operator Naver said Monday it will invest 150 billion won in its online comic platform to better penetrate into overseas markets. Naver said it will make the investment through a paid-in capital increase program and acquire 300,000 additional shares in its wholly-owned affiliate, Naver Webtoon. Naver Webtoon said it plans to use […]

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Retail Asia29/05/2018

Industrial robot company Hyundai Heavy Industries Holdings (HHI Holdings) inked a partnership with tech giant Naver on Monday to develop customer service robots that will sell for a fraction of the price of existing models. HHI Holdings, the holding company of Korean shipbuilder Hyundai Heavy Industries, will handle the production, sales and quality control of […]

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Retail Asia22/03/2018

Naver and Daum, Korea’s two largest search engines, will begin providing real-time cryptocurrency prices on their websites. Dunamu, an affiliate of Kakao which operates the cryptocurrency exchange Upbit, will run the service, the company said. Users can enter the name of a cryptocurrency in either search engine, and the current price will show up in […]

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Retail Asia30/06/2017

Korea’s largest internet portal Naver inked an agreement to acquire France-based Xerox Research Centre Europe (XRCE) a lab with expertise in major new technologies such as artificial intelligence and machine learning. Naver wants to ratchet up its AI capabilities and expand its presence in Europe, a fresh market for the Korean IT giant. Naver has identified AI […]

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