ONE Store nabs $14.8 mn won investment from Krafton

[Courtesy of ONE Store]

ONE Store, a South Korean mobile app market, announced on Tuesday that it successfully secured an investment of 20 billion won ($14.8 million) from game developer Krafton.

Krafton, widely known for its popular game title Battlegrounds (PUBG), decided to invest in ONE Store, recognizing the app market’s potential as the company prepares to expand outside Korea.

Founded in 2016, ONE Store is a Korean mobile service company specializing in the development and operation of a smartphone app store of the same name. The company has gained traction in recent years, winning an investment of around $15 million from investors including Microsoft and DTCP, a subsidiary of Deutsche Telekom, in 2021.

ONE Store intends to utilize the latest investment to facilitate its global expansion efforts, driven by policies in regions such as Europe and the United States that mandate the introduction of third-party app markets to foster fair competition.

ONE Store emphasized that the investment would serve as momentum for enhancing its global competitiveness, thus going beyond a simple financial investment.