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Naver takes on Japan market via partnership with Yahoo Posted : 2021-03-02 16:49 By Kim Bo-eun While it is not Naver's first time to launch portal services in Japan, the situation appears different this time due to it having partnered with Yahoo, which had previously been its competitor there. Naver is now equipped with a solid market share in both search engine and mobile messenger services via its Japanese subsidiary Line and is seeking to enhance competency with artificial intelligence capabilities. Naver and Yahoo Japan's parent company SoftBank launched the new entity A Holdings, Monda...

Posted : 2021-02-15 16:37 Updated : 2021-02-15 17:03 Models show pet-related products at Molly's Pet Shop in Starfield Hanam in Gyeonggi Province in this 2019 file photo. / Yonhap By Kim Jae-heun E-mart's pet shop chain Molly's Pet Shop may be put up for sale as several unnamed candidates including local private equity funds (PEFs) have contacted the country's largest retailer expressing interest in taking over the business. "There are candidates who wish to acquire E-mart's Molly's Pet Shop. We will contact E-mart to ask their opinion and collect strategic investors to prepare for a possi...

Controversy arises over FTC's regulation on platform operators Posted : 2021-01-29 09:02 Updated : 2021-01-29 15:37 Korea Fair Trade Commission Chairperson Joh Sung-wook speaks during a press briefing at the government complex building in Sejong City, on Dec. 28, 2020. / Korea Times file By Kim Jae-heun A new bill proposed by the Korea Fair Trade Commission's (KFTC) to regulate platform operators such as Google, Naver and Coupang has triggered controversy, with the Korea Communication Commission (KCC) saying the regulation is redundant, and the companies claiming it is excessive. The so-c...

WeMakePrice to focus on fashion sector for survival Posted : 2020-12-18 17:47 Updated : 2020-12-18 17:47 WeMakePrice CEO Park Eun-sang speaks during a press conference held at his office in Seoul in this 2015 file photo. / Korea Times fileBy Kim Jae-heun WeMakePrice (WMP), a local e-commerce firm, is betting big on its fashion section to compete in the fierce online shopping market against Coupang, Naver and eBay Korea. WMP recently restructured its online shopping division Wonder Shopping to a more cosmetics and fashion centric platform dubbed W Style. W Style will and sell both domestic ...

Platform giants meddle with algorithms to increase profitability Posted : 2020-12-17 09:41 By Kim Bo-eun The emergence of platform giants such as Google, and in Korea, Naver, has created market circumstances where dominant players are able to alter algorithms to place themselves at an advantage over competing firms. In 2017, the European Union's Antitrust Commission fined Google 2.42 billion euros (3.2 trillion won) for abusing its dominance as a search engine by giving an illegal advantage to its own comparison shopping service. A similar case has unfolded in Korea ― with the Fair Trade ...