Naver and Cafe24 Collaborate... "Various Discussions Including Capital Exchange Underway"
[Asia Economy Reporter Lim Chun-han] Cafe24 stated on the 9th in response to the Korea Exchange KOSDAQ Market Division's inquiry disclosure request regarding reports of Naver's acquisition, "We are in various discussions, including capital exchanges, with major business partners, but nothing has been finalized yet."
Through a disclosure on the same day, Cafe24 said, "We will re-disclose when specific details are finalized or within one month."
According to investment banking (IB) industry sources, Naver is reportedly finalizing negotiations to acquire a 20% stake in Cafe24 and is expected to sign a contract as early as this week. If this investment is completed, Naver will become the largest shareholder of Cafe24.
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Cafe24 provides various services such as shopping mall setup, advertising and marketing, payment, and logistics, with a cumulative customer base of 1.9 million. Last year, its sales reached 247.3 billion KRW, and operating profit was 8.4 billion KRW.
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