Life and Life of Business in Japan Naver/Kakao
Naver enters all areas of search and shopping
SoftBank and Web 3.0 in earnest
Kakao with Kakao Piccoma
In Japan, the piccoma winning strategy takes the lead
Blockchain startup in Singapore
Naver and Kakao, the two largest domestic big tech companies, announced their overseas expansion and chose Japan as their outpost. The two groups are expected to fight without concessions in that they must remove the label as a domestic-use company and show the actual results of their overseas expansion to shareholders around the world. It has emerged as an important point of observation to determine who will use the experiences of challenges and failures attempted in Japan in the past as the basis for success.
According to the information technology industry on the 20th, Naver recently set up a task force directly under the CEO to systematically promote overseas business. The name of the TF is Japan Business Synergy TF. It means that the Japanese market is that important. At the first online meeting with employees on the 18th, Naver CEO Su-yeon Choi emphasized that this year will be the first year in which tangible results can be seen, choosing Japan as the first place for overseas business.
Naver is preparing to attack Japan in all directions with its representative technologies and services such as search, shopping, advertisement, content, and artificial intelligence. Each CIC is in the mood to increase its Japanese business support TF. The core business is the market settlement of the smart store, a signage commerce platform launched in Japan last year. To this end, we will start building a cross-border platform where Korean smart store sellers can sell products in Japan. A price comparison search service for Korean and Japanese products will also be launched.
Naver is also promoting new business in Japan. Naver launched Z Holdings by integrating the management of the mobile messenger line and Japans largest portal service Yahoo Japan, gaining an ally called Softbank. Recently, it is reported that Naver is discussing the blockchain-based Web 3.0 business at a regular meeting of the leaders of the three major companies, including Softbank and Z Holdings. There is a possibility that Naver will collaborate with Softbank not only in the business-to-business business, but also in the field of Web 3.0. Global investment manager Lee Hae-jin is said to be deeply involved in this. GIO Lee Hae-jin is the chairman of A Holdings, a joint venture between Naver and Softbank. An IT industry official said that this GIOs Japanese business collaboration picture will show up as a concrete result this year.
In Kakao, Chairman Kim Bum-soo leads overseas business with Japan as the starting point. The IT industry is paying attention to the combination between Chairman Kims will and Kakaos unique aggressive business expansion ability. What sets it apart from Naver is Japans Kakao Pickcoma all-in strategy. Kakao Piccoma, which has dominated the Japanese webtoon and web novel market, plans to diversify its content business and enter France, Germany, and Spain one after another. Preparations for listing on the Tokyo Stock Exchange are also cruising. Local media see the corporate value of Kakao Piccoma as more than 800 billion yen. In order to strengthen the competitiveness of Kakao Piccoma, integration with Kakao Games Japan is also being considered. Chairman Kim plans to utilize the business know-how, technology, and human network accumulated while cultivating Kakao Piccoma for other businesses. It is said that he has set a grand dream of nurturing a blockchain business in Singapore by using Japans Kakao Piccoma as an overseas bridgehead.
The biggest reason the two big tech founders are focusing on Japan is the market potential. The Japanese market is larger than the Korean market, but the maturity of online services is relatively low. Unlike the US, China, and Southeast Asia, the influence of overseas big techs such as Google is weak. Pride in Japanese business also played a part. This GIO entered Japan as a search business in 2000 and 2007 and withdrew, but the line succeeded in 2011. Chairman Kim also entered Japan twice through game service in 2000 and Kakao Talk in 2011, but with no great results. Kakao Piccoma, which ranked first in sales both in Japan and abroad last year, is Chairman Kims first fruit in Japan. An official from the platform industry said that both of them have been tapping Japan for over 10 years, and their understanding of the market has increased. As of last year, overseas sales accounted for 35% of Naver and 10% of Kakao.