SEUM advised NAVER Corporation (“Naver”) in its participation as a strategic investor in the KRW 10 billion Series A funding round of OurBox Co., Ltd (“OurBox”).

Naver has recently been investing in various fulfillment service startups, having invested in Wekeep, Dohands Corporation (‘Poomgo’), Dealicious (‘Sinsang Market’), FSS, and others prior to its investment in OurBox. Partnering with CJ Logistics, Naver has been taking the lead in advancing solutions for B2C logistics systems. Naver remarked that it seeks to provide logistics solutions to its Smart Store sellers through these investments, as well as build a modernized fulfillment ecosystem for small businesses. 

(Refer to the following link for details on Naver’s strategy in investing in OurBox (article).

OurBox is focused on providing e-commerce companies with cold chain fulfilment services specialized for refrigerated or frozen foods by providing services such as establishment and operation of e-commerce centers  and logistics consulting. Based on this Series A funding investments from Naver, SV Investment, Halla Holdings, A-Ventures, and Industrial Bank of Korea, OurBox has expressed its plans to accelerate its growth by contributing to the development of the e-commerce industry by expanding logistics centers in the Seoul Metropolitan Area. 

As its long-time legal partner, SEUM has been providing Naver with various legal services, including advising on its investment projects, M&As, and other corporate management and operational issues. For this Series A financing, SEUM was able to assist Naver in a smooth investment process based on its strong experience in the industry. 

The SEUM team was comprised of partners Hoseok Jung and Seungkyu Byun.

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