"Jieosoft Launches Oasis Pay... Taking Growth to New Heights"

[Asia Economy Reporter Hyungsoo Park] Kyobo Securities maintained a 'Buy' rating and a target price of 30,000 KRW on GeoSoft on the 11th, stating that Oasis Market will continue to grow. GeoSoft holds 79.4% of Oasis Market's shares.

Researcher Soyeon Jeong of Kyobo Securities explained, "Online Oasis Market sales recorded 50.1 billion KRW in the first quarter," adding, "It is estimated that the average daily sales increased from 820 million KRW in January to 960 million KRW in March."

She continued, "Oasis Market will be the first dawn delivery company to launch its own simple payment system called 'Oasis Pay,'" and added, "They plan to recruit members through TV advertisements in the second half of this year and expect a lock-in effect through Oasis Pay."

Furthermore, she said, "Oasis is the only profitable e-commerce company with competitiveness that outperforms the rapidly growing dawn delivery market," emphasizing, "Continuous attention is necessary."

It is estimated that Oasis Market will achieve sales of 303.2 billion KRW this year, representing a 147% increase compared to last year.

Market Kurly, which competes with Oasis Market, has started fundraising. Interest in Market Kurly has increased following Coupang's listing on the New York Stock Exchange, and the enterprise value of Kurly, the operator of Market Kurly, has exceeded 2 trillion KRW.

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