Naver Invests 130 Billion Won in KREAM...Participates in Paid-In Capital Increase
Naver is investing approximately 130 billion won in KREAM, its limited-edition product trading platform.
On August 4, Naver announced that it will contribute 130 billion won to KREAM in the second half of this year by participating in a paid-in capital increase. Through this investment, Naver will secure 38,681 shares of common stock in KREAM.
Naver Headquarters in Seongnam, Gyeonggi Province. Photo by Jinhyung Kang aymsdream@
View original imageUpon completion of this investment, Naver's total investment in KREAM will rise to 179,999 million won.
Naver explained that the purpose of this investment is "to secure resources for scaling up the business."
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KREAM is a platform for reselling (secondary market) limited-edition sneakers, luxury goods, and apparel. The company was spun off in 2020 from SNOW, a subsidiary of Naver.
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