South Korea’s e-commerce firms ramp up OTT patforms

Coupang and Naver are looking to keep customers active on the platform.

South Korea’s e-commerce industry is scrambling to bolster over-the-top (OTT) platforms or create web video series to attract customers, Korea Bizwire reported.

For instance, Coupang has recently been focusing on securing exclusive video content for new streaming service Coupang Play for its Wow Membership subscribers. In addition to sports, the company has reportedly been preparing to release exclusive variety shows and series.

Local internet portal Naver has also allowed its Plus Membership subscribers to access Tving, an online video streaming platform run by entertainment giant CJ ENM, since March. Members can access some 70,000 television series and variety shows without paying additional fees.

The two companies are focusing on securing exclusive video content to ramp up membership benefits and maximize the ‘lock-in effect’ by keeping customers active on the platform, Korea Bizwire noted.