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Naver responded with a new promotion for its paid membership program.

Source: Naver Corp

Seoul, South Korea - Naver (KRX: 035420) is launching a series of promotions to reward loyal subscribers and attract new users to its Naver Plus membership program. 

With a subscriber retention rate of 95%, the company aims to enhance the benefits for its existing members further while encouraging new users to experience the program's unique benefits.

The promotions include a three-month free trial for new subscribers and a three-month free shipping trial for all members. 

New users who have never joined Naver Plus Membership or who have not subscribed in the past six months can enjoy a three-month waiver of the KRW 14,700 (US$10.57) subscription fee.

In addition, all Naver Plus Membership subscribers will receive daily shipping discount coupons worth KRW 3,500 (US$2.52) for three months, applicable to purchases over KRW 10,000 (US$7.19) on products with "Naver Arrival Guarantee".

Naver attributes the high level of subscriber loyalty to its consistent subscription fee of KRW 4,900 (US$3.52) per month for the past four years and its rewards program, which offers up to 5% points on various services, including shopping, reservations, and travel. 

The company has also introduced exclusive benefits and features such as "Membership Day," "Members Only," and "With Family," which allow subscribers to share benefits with family and friends.

The membership program has proven beneficial to Naver and its partners. Members spend nearly twice the gross merchandise value (GMV) of non-members. 

Naver plans to further strengthen its membership competitiveness by diversifying the rewards and benefits offered to loyal subscribers, which will contribute to the growth of the Naver ecosystem.

In contrast, Coupang, a significant competitor, recently announced a price increase for its "WOW Membership" program. 

Starting April 13, the monthly fee became KRW 7,890 (US$5.74) for new members, and the change will be visible to existing members in August.