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View of Naver office building. (Photo=Naver) |
[Alpha Biz=(Chicago) Reporter Paul Lee] Naver's stock price fell 0.37% to 188,200 won on the stock market on the 25th. Stock prices have fallen 17.27% this year alone. During the same period, Kakao's stock price also fell 6.74 percent. In contrast, the KOSPI is making a clear rebound this month, with the KOSPI recovering to the 2,700-point level.
The decline in the stock prices of the two companies is all the more painful compared to the fact that U.S. tech stocks are all-time strong. The tech-focused NASDAQ index rose 11.26 percent this year alone, while shares of Meta and Amazon jumped 47.15 percent and 19.30 percent, respectively, during the same period.
This year, Chinese direct-purchase apps are growing rapidly, threatening the shopping business of the two companies. According to the mobile index on the 25th, the most installed apps in Korea were Temu (1.65 million) and Ali Express (1.09 million) last month. On the other hand, the number of new installations of zigzag and cream apps, Naver and Kakao's fashion platforms, stood at 200,000 and 180,000, respectively, last month.
Alphabiz Reporter Kim SangJin(hoondork1977@alphabiz.co.kr)
