Naver and Emart May Form 'Blood Alliance'... Discussing Share Exchange

Hansung-sook, CEO of Naver

[Asia Economy Reporter Buaeri] Naver and Emart are reportedly discussing a partnership that includes a share exchange.

According to the IT industry on the 9th, both parties are in talks about cooperation, including exchanging shares with each other.

A Naver official said, "It is true that the two companies are in discussions," but added, "No concrete situation has been decided yet."

Considering Naver's previous precedent of exchanging shares worth 600 billion KRW with CJ Group, the industry speculates that a share exchange method is likely this time as well. The scale of the share exchange is estimated to reach 250 billion KRW.

Earlier, Chung Yong-jin, Vice Chairman of Shinsegae Group, met with Lee Hae-jin, Naver's Global Investment Officer (GIO), and Han Seong-sook, CEO of Naver, at Naver's headquarters located in Bundang, Gyeonggi Province, in January.

At a press conference on the 2nd, CEO Han said, "We had an open and frank discussion about the distribution sector (with Vice Chairman Chung)," and added, "If cooperation plans emerge, we will keep the possibility open and continue discussions."

This content was produced with the assistance of AI translation services.