Naver Bolsters 'Safe Shopping' Program to Enhance Buyer Trust

Seoul, South Korea—Naver Corp (035420. KS) announced on Monday the expansion of its 'Safe Shopping' program, which aims to improve buyer trust and transaction stability on its platform.

The program focuses on preventing counterfeit product distribution, enhancing the monitoring of harmful products, and strengthening the detection of abnormal trading activities.

Over the past three years, Naver has maintained a 90% preemptive response rate for counterfeit goods, blocking approximately 1,000 suspicious stores monthly. 

The company has implemented a three-stage response system for counterfeit products, covering registration, verification, and operation phases.

The anti-counterfeit measures include enhanced pre-screening of new store registrations, stricter verification processes for suspected counterfeit sellers, and expanded partnerships with rights holders and government agencies.

Naver has intensified monitoring children's lifestyle and health categories to address concerns about harmful products. 

The company is also developing a system to make safety certification information mandatory for sellers.

Naver reported an 80% reduction in direct transaction and phishing-related complaints since January, attributing this to improved risk detection logic and enhanced application of its Fraud Detection System (FDS).

The company has strengthened its technological capabilities to combat fraudulent activities, improving detection logic for identifying suspicious stores and enhancing its Fraud Detection System application.

Naver's expanded buyer protection measures come as e-commerce platforms face increasing scrutiny over the authenticity and safety of products sold. 

The company's proactive approach could influence competitors to bolster consumer protection measures.

"Building on our policy and technological reliability, we will continue our medium to long-term efforts to create a 'Safe Shopping' environment for buyers and strengthen public-private cooperation chains," said Bong-seok Yoo, head of Naver's Policy/RM division.

The move builds on Naver's reputation for seller-friendly policies, including rapid payment settlement and free returns for specific products. 

These efforts are crucial in maintaining its market position and attracting new users to its platform as the e-commerce sector grows.