Kurly Attracts 33 Billion Won Follow-on Investment from Naver... Accelerates Logistics Infrastructure Expansion

Market Kurly operator Kurly Inc. (CEO Kim Seul-ah) has attracted external investment funds worth 33 billion won to strengthen its logistics capabilities and promote new businesses.

According to a public disclosure on the 6th, Kurly held a board of directors meeting and decided to issue 498,882 common shares through a third-party allotment capital increase. The issue price of the new shares is 66,148 won per share, and the total amount raised is approximately 33 billion won.

The allottee of this paid-in capital increase is Naver Corporation, an existing shareholder and strategic partner. Regarding the background of selecting this investor, Kurly stated through the disclosure, "We comprehensively considered the achievement of the company's management objectives and the investor's payment capability." The two companies are currently continuing close cooperation in the commerce business sector based on their strategic partnership, and this investment takes the nature of a follow-on investment to further solidify the 'blood alliance' relationship between the two companies.

The entire 33 billion won raised will be used as operating funds. According to the detailed plan disclosed, Kurly plans to utilize the funds to focus investments on ▲expanding logistics processing capacity (CAPA) and ▲promoting new businesses. The execution of the funds is expected to be fully completed within this year.

Prior to the capital increase, Kurly's total number of issued shares was 42,375,583 common shares, and once this capital increase is completed, the new shares will be issued following payment on May 20.

Through this disclosure, Kurly clarified that it is not subject to submitting a separate securities registration statement, adding "private placement by an unlisted corporation" as the reason. Accordingly, Kurly is expected to focus on gaining a competitive edge in delivery within the recently intensified e-commerce market based on the secured ammunition.