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Naver to invest additional 130 billion won in resale platform Kream

Naver will invest 130 billion won in a paid-in capital increase by affiliate Kream, it said in a regulatory filing. Naver approved the investment at a board meeting on Aug. 4 and plans to acquire 36,861 common shares, with the timing set for the second half of this year. The company said the purpose is to secure funds to expand Kream’s business scale. The total amount invested in Kream will be 179.999 billion won including this investment.