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.


Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge
FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit
Anta Sports Expands Global Footprint With Strategic Puma Stake
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering
DBS Expects Slight Dip in 2026 Net Profit After Q4 Earnings Miss on Lower Interest Margins
Samsung Electronics Shares Jump on HBM4 Mass Production Report
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 



