Naver Corp.

We expect Naver to maintain its strong market position in search engines and online advertising. Global competitors have had difficulty penetrating the Korean market. Google LLC only recently made some headway in Korea with its video platform, YouTube; the company's market share in search engines is still very low. Meanwhile, Naver's strategy to build a seamless e-commerce experience supports its market position in Korea's highly fragmented e-commerce market. The company leverages its dominant presence in search engines, its digital payment solution "Naver Pay", its membership program, and its improving fulfillment capability via a strategic partnership with CJ Logistics Corp. Naver will probably have difficulty in extending most of its services internationally because they are optimized for Korea. The international market

...Naver Corp. is likely to remain one of the largest internet search engines and e-commerce platforms in Korea. The company has the dominant search engine, one of two leading e-commerce platforms, and a strong position in online advertising in Korea. It has about 30 million daily active users as of end-2020, representing 60% of the country's population. Naver provides a suite of services, including online content, community, and digital payments, which help enhance user engagement and monetize internet traffic. We expect Naver to maintain its strong market position in search engines and online advertising. Global competitors have had difficulty penetrating the Korean market. Google LLC only recently made some headway in Korea with its video platform, YouTube; the company's market share in search engines is still very low. Meanwhile, Naver's strategy to build a seamless e-commerce experience supports its market position in Korea's highly fragmented e-commerce market. The company leverages...

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