Naver is strengthening its online shopping business. Having grown through its search services, the company is actively expanding its online shopping sector to improve profitability as the future of the search market becomes uncertain with the emergence of generative AI. If the planned merger with Dunamu is completed, the focus of Naver’s core businesses is expected to shift from search and news to shopping and fintech. A source from the online shopping industry said, “Naver is making all-out efforts to create a shopping service that can compete with Coupang.”
◇‘Nepleus’ Cumulative 15 Million Downloads
According to mobile data from IGAWorks’ Mobile Index, the monthly active users (MAU) of the Naver Plus Store (Nepleus) shopping app reached a record high of 7.77 million last month. This marks a 9% increase from February (7.1 million). It ranks third after Coupang (35.03 million) and 11st (8.15 million). While the gap with Coupang remains large, Nepleus was second only to Temu (750,000 installations) in new app installations, with 670,000. This indicates rapid growth.
The Naver Plus Store app, launched in March of last year, recently surpassed 15 million cumulative downloads. User satisfaction has also risen. According to the ‘Online Shopping Trend Report 2026’ by research firm Open Survey, satisfaction with Nepleus was 84%, surpassing Coupang’s 72%. Last year, Coupang’s satisfaction rate (83%) was higher than Nepleus’ (79.7%).
Naver anticipates that the shopping AI agent (secretary) introduced at the end of last February will drive growth in its shopping business. The shopping AI agent provides personalized information and recommends optimized products through artificial intelligence. Naver plans to enhance shopping convenience by adding features such as real-time shopping trend analysis, automatic related product recommendations, and cart-saving functions.
To improve AI recommendation accuracy, Naver will suspend sales of underperforming products on Smart Stores—where sellers list items—starting in June. Some sellers had repeatedly listed the same products to increase page exposure, but Naver will halt sales of low-performing items to ensure high-quality products receive better visibility. A Naver spokesperson said, “Reducing excessive exposure of duplicate or out-of-stock items will improve search quality and enhance the shopping experience.”
◇First-Quarter Record Performance Forecast: ‘Thanks to Shopping’
Naver’s limited-edition trading platform, Cream, also achieved record sales last year. Cream’s sales increased by 14% year-on-year to 2.025 billion Korean won. Its operating loss improved, decreasing by 8.8% to 81 billion Korean won. The sales growth is attributed to diversified product categories. While Cream initially focused on sneaker sales, sneakers accounted for only about 37% of total transactions last year. The tech category, including smartphones, became the second-largest segment, with increased transactions in apparel, luxury, and lifestyle.
Naver is also diversifying its shopping platforms. It recently launched ‘Knockit,’ a new fashion platform targeting the 2030 generation. The platform recommends fashion brands and items for various situations, such as ‘A Good Day for Running’ and ‘When Going Out Lightly in Front of Home.’ Naver plans to provide sophisticated personalized services on Knockit by linking it with its shopping AI agent.
As shopping business profitability improves, Naver is expected to achieve record performance in the first quarter. According to FnGuide, Naver’s first-quarter revenue is projected to reach 3.151 trillion Korean won, with an operating profit of 564.7 billion Korean won. Revenue is expected to increase by approximately 13% year-on-year, and operating profit by around 12%. A securities industry insider said, “Shopping is at the center of Naver’s performance this year. Strengthening free shipping and return benefits, along with the shopping AI agent improving user convenience, is expected to further increase shopping users and transaction volumes.”
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