Portal operator Naver Corp. and retail giant Shinsegae Group will swap shares in a deal valued at 250 billion won to strengthen their foothold in the highly competitive e-commerce sector.
Naver will purchase 150 billion won worth of stocks in Shinsegae's discount store chain operator E-Mart Inc. for a 2.96 percent share and buy 100 billion won worth of fashion retailer Shinsegae International Inc. for a 6.85 percent stake.
Meanwhile, E-Mart and Shinsegae will purchase 250 billion won worth of Naver shares for a combined 0.4 percent share.
Shinsegae Group Vice Chairman Chung Yong-jin and top portal operatorNaver co-founder Lee Hae-jin agreed on an e-commerce collaboration in January.
In October, Naver had a share swap agreement worth 600 billion won with logistics giant CJ Group to enhance competitiveness in the e-commerce and entertainment industries.
Coupang Inc.'s successful debut on the New York Stock Exchange last week, which raised $4.6 billion, intensified competition in South Korea's online retail sector.
Coupang's rise has prompted South Korea's e-commerce players to seek partnerships, mergers and acquisitions, and IPOs.


ShareChat Eyes 2027 IPO After Reaching Operational Profitability, Report Says
Apple Expands iPhone Lineup, Boosts Foldable iPhone Production Plans Through 2027
Meta Stock Jumps as AI Cloud Expansion Challenges AWS, Microsoft, and Google
SoftBank’s LY Corp, Bain Raise Kakaku.com Bid to ¥670 Billion, Intensifying Takeover Battle
Suncorp Cuts 2026 Premium Growth Forecast as Australia, New Zealand Markets Weaken
Kioxia Bets on AI Memory Boom With Next-Gen NAND Production in Japan
Chinese Copper Foil Maker Londian Files U.S. IPO as EV Battery Demand Grows
Tesla Q2 Deliveries Lift Chinese Auto Suppliers as EV Demand Improves
TetherMax Rebranding Highlights Official Exchange Partnerships as Foundation of Trust
Apple Eyes Chinese Memory Chips as AI Shortage Pressures iPhone Supply Chain
Samsung to Invest $90 Billion in South Korea to Expand AI Chip, Display, and Battery Production
Sodexo Raises 2026 Revenue Outlook After Strong Q3 Sales Beat
Norway Offshore Oil Workers Reach Wage Deal, Averting Strike
Northern Star Appoints New CEO as Activist Elliott Pushes for Leadership Overhaul
Switch Seeks $2 Billion Funding at Nearly $50 Billion Valuation Ahead of Potential IPO
Anthropic Tightens AI Access Controls After Reports of China-Based Workarounds
OpenAI Proposes 5% U.S. Government Stake Amid AI Policy Talks 



