Major platforms pledge support for small businesses’ digital shift

(Yonhap)

South Korea‘s four major platforms - Naver, Kakao, Coupang, and Daangn Market - announced new initiatives on Wednesday to strengthen partnerships with small businesses and support their digital transformation.

The announcement followed a meeting between platform industry leaders and Minister of Science and ICT Yoo Sang-im, who marked his first formal gathering with the platform sector since taking office. Attendees included Naver CEO Choi Soo-yeon, Kakao CEO Jeong Shin-ah, Coupang CEO Park Dae-jun, Daangn Market CEO Hwang Do-yeon, and Korea Internet Corporations Association President Park Seong-ho.

Naver announced plans to expand and restructure its “Fountain Fund,” a financial support program designed to aid small business owners and content creators in achieving digital transformation and sustainable growth. For its part, Kakao intends to support over 100 traditional markets and shopping districts across the nation, helping small businesses attract loyal customers via digital transformation.