[Click eStock] “Naver, Far from Neighborhood Market Issues”

Zepeto, Cream, Cake and Other Competitors' Distinctive Content
Hyundai Motor Securities "Maintain Naver Target Price at 600,000 Won"

[Asia Economy Reporter Gong Byung-sun] A securities industry analysis has emerged suggesting that NAVER, which is far removed from the alleyway commercial district issues, should be bought at its low point. The acquisition of Munpia is also accelerating the ultra-gap strategy in the content business sector.

On the 14th, Hyundai Motor Securities maintained its investment opinion of 'Buy' on NAVER and a target price of 600,000 KRW. The closing price on the previous day was 408,000 KRW. Hyundai Motor Securities explained that the investment opinion and target price were maintained because NAVER is far from the recent ongoing regulations.

Hyundai Motor Securities researcher Kim Hyun-yong said, "The fintech sales impact due to this financial regulation is less than 5%, so the effect is very limited," and added, "The alleyway commercial district issues mentioned as concerns for additional regulations have low relevance to NAVER's business structure."

The content business sector, which is far from the alleyway commercial district, continues to strengthen its competitiveness. On the 10th, NAVER decided to acquire a 36.08% stake in Munpia for 108.2 billion KRW. There is even talk of acquiring additional shares, which could make NAVER the largest shareholder. This is interpreted as a decision to target the relatively weak Japanese webtoon and domestic web novel markets, despite dominating the domestic and global webtoon and web novel markets. Munpia holds major intellectual properties (IPs) such as "Omniscient Reader's Viewpoint," "Genius's Game Broadcast," and "Top Management."

The platform subsidiaries Zepeto, Cake, and Cream are also growing their growth potential. The combined corporate value of these three platforms is known to exceed 4 trillion KRW. Additionally, these three platforms primarily serve Generation Z, born from the mid-1990s to the early 2000s, and are already globally dispersed regionally.

Researcher Kim emphasized, "The differentiated platform value of Zepeto, Cake, and Cream compared to competitors has significant potential to be additionally reflected in NAVER's corporate valuation," and stressed, "It is time to present NAVER as the top preferred internet stock and to buy at the low point."

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