Korean mobile carriers SK Telecom, KT and LG Uplus will partner domestic ISP Naver to launch a unified app store, Yonhap news agency reports, citing company officials. SK Telecom, KT and LG Uplus already have a combined app retail channel dubbed ‘One Store’. An SK Telecom subsidiary, which manages One Store, has now agreed with Naver to consolidate its app services. The new app market is scheduled for official launch in June, using the single brand One Store.
One Store will strengthen its connection with Naver's other existing services, including Naver Pay. "Both of the companies make much of the co-prosperity with startups and small-and medium-sized developers", said Naver CEO Kim Sang-hun. Naver will offer KRW 10 billion (approximately USD 8.6 million) in financial assistance over the next three years for the co-prosperity program, Kim Sang-hun added.
Lee Jae-hwan, head of One Store, expects more synergy from the planned joint venture with Naver. "Since the three mobile phone service firms launched the unified app store last year, the number of downloads have increased 2.4 times, registered applications 1.8 times, and transaction volume 1.5 times", he said.
