Mesh Korea-Oasis Market Joint Venture Launched: "Joint Attack on Quick Commerce Market"
Joint Venture 'Jusikhoesa V' Launched, Co-Managing Next-Generation Quick Commerce Platform
Real-Time Delivery of Fresh Food and Everyday Essentials
[Asia Economy Reporter Kim Cheol-hyun] Mesh Korea (CEO Yoo Jung-beom), operator of 'Boorung,' announced on the 15th that it will launch a joint venture (JV) company, V Co., Ltd., in collaboration with Oasis Market, a fresh food dawn delivery specialist, to launch and operate a new quick commerce service platform.
The new company plans to introduce a new platform combining real-time quick commerce and dawn delivery services within the second half of this year. The strategy is to lead the e-commerce market centered on quick commerce and dawn delivery based on the big data and artificial intelligence (AI) technologies of both companies.
The joint venture will be co-managed by Yoo Jung-beom, CEO of Mesh Korea, and Kim Young-jun, CEO of Oasis Market. The capital is approximately 5 billion KRW, with Oasis Market holding 50% plus one share and Mesh Korea holding 50% minus one share, jointly operated through mutual agreement. On the newly launched quick commerce platform, consumers will be able to quickly receive various essential daily items such as real-time food and beverage orders, fresh food grocery shopping, clothing, books, and pet products.
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The launch of this joint venture is based on the judgment that Boorung's IT assets and Oasis's competitiveness, which is growing while recording profits in the dawn delivery market, can create synergy to lead the domestic quick commerce market. Yoo Jung-beom, CEO of Mesh Korea, said, "The global e-commerce market is rapidly changing into a complex structure where no single company can compete and survive alone," adding, "The synergy of the two companies, which have long focused on the essentials such as infrastructure and solution construction and product sourcing to target the e-commerce market, has sufficient competitiveness to seize the leadership in the quick commerce market."
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