Kurly Acquires AI Startup 1Z Labs

Seoul, South Korea - Kurly announced it will acquire artificial intelligence solutions firm 1Z Labs, making it a wholly-owned subsidiary through a stock exchange arrangement.

According to a regulatory filing, the exchange ratio is set at one Kurly common share to 1.8437990 1Z Labs shares. To complete the transaction, 

Kurly will issue 453,518 new common shares. The exchange is scheduled for August 4.

Kurly said the acquisition is intended to support its internal "AI Transformation" initiatives, which include establishing AI governance frameworks and developing automated services.

Prior to the acquisition, the two companies co-developed several operational tools, including "Creative AI," a software solution that automates the planning and production of advertising banners and product images, and an in-house demand-side platform for advertising operations.

The companies have also deployed an AI Customer Service system, referred to as AICS, for direct user inquiries. 

Kurly said the system currently processes approximately 40% of its daily customer service volume, handling standard administrative tasks such as order cancellations and returns autonomously.