[THE INVESTOR] Internet giant Naver was the top e-commerce platform in the Korean market in the second quarter, according to a brokerage on Aug. 1.

Naver posted e-commerce revenue of 80.8 billion won (US$72.90 million) in the April-June quarter, up 21.2 percent from a quarter earlier, Mirae Asset Daewoo Securities said in a recent report.

Given the revenue, the brokerage estimated that Naver accounted for about 18 percent of the Korean e-commerce market for the second quarter. When people shop online, they appear to be increasingly searching for items and comparing their prices on Naver’s website before using the search engine’s payment platform, according to the report.

Naver launched its mobile payment platform Naver Pay last year and its quarterly transaction volume reached about 1 trillion won.

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