À̹ÌÁö È®´ë Naver Corp. CEO Han Seong-sook is expected to lead the South Korean internet giant¡¯s foray into the European e-commerce market with its artificial intelligent (AI)-backed Smart Store platform.
Han, who will step down from CEO¡¯s role in March, will reportedly take a new position as head of Naver¡¯s e-commerce business in Europe. Internal consensus already has been reached for Han¡¯s new leadership role, according to a source with close knowledge of the matter on Sunday.
Europe, along with North America, is a key market for Naver¡¯s global expansion.
The company is said to have forged partnership with leading digital platforms for trading secondhand goods in Europe – Wallapop and Vestiaire Collective – with a plan for expansion to online shopping and other e-commerce business in Europe. Naver has made 155 billion won ($130 million) investment in Wallapop, the largest used goods trading app in Spain, and undisclosed amount in Vestiaire Collective, France-based operator of pre-owned luxury fashion goods trading app.
À̹ÌÁö È®´ë Han reportedly has led the investment in both Wallapop and Vestiaire Collective from the very beginning.
According to industry sources, Naver is working to introduce its e-commerce related technology, such as artificial intelligence-based search and advertisement to Wallapop and Vestiaire Collective. In addition, the Korean firm aims to present its Smart Store, an online store platform where business owners can promote and sell their products, in the region. Smart Store is Naver¡¯s top grossing new business with 470,000 small business partners in Korea.
While Han leads Naver¡¯s global expansion through Europe, younger-generation leaders led by new CEO Choi Soo yeon will unearth new business opportunities in Korea. Park Sang-jin, chief financial officer of Naver, will spearhead Naver Financial, while Chae Sun-joo, chief communication officer of Naver, is to lead the company¡¯s environmental, social, and corporate governance (ESG) management.
By Hwang Soon-min and Cho Jeehyun
[¨Ï Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]