Neighbors record record high quarterly revenue in second quarter

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South Korean search giant Neighbors recorded strong revenues in the second quarter of this year, with sales of 1.66 trillion won and operating profit of 335.6 billion won, up 30.4% and 8.9%, respectively, year-on-year. Before.

This is Neighbor’s best quarterly performance to date, both in terms of sales and operating profit.

The Korean company has grown entirely. Search, commerce, financial services, content, and cloud business units all recorded double-digit year-over-year growth.

Local stores have increased their use of online shopping platforms, and mobile payment service Neighbor Pay recorded 9.1 trillion won in transactions during the quarter, according to Neighbor. Meanwhile, the company said it recorded sales growth of over 40% year-on-year in both the e-commerce and financial services businesses.

Neighbor CEO Han Seong-sook said at a quarterly conference call that he plans to set up a 100 billion won fund to invest in content. The fund supports content that has proven to be popular on the storytelling platform Wattpad. Neighbors acquired for $ 600 million earlier this year..

Han also addressed the issues surrounding the death of one employee during the second quarter earnings announcement. Suicide in may After being bullied and overworked by senior management, allegedly.

“It will be our top priority in the second half of this year to tackle areas where we are inadequate, such as forming a healthy corporate culture,” the CEO said in a conference call. Earlier, the company’s board of directors stated that by the end of the year it would form a task force dedicated to creating new management structures.

Earlier this month, Naver’s trade union said it would file a petition with Naver’s largest shareholder, the National Pension Service, to dismiss a senior executive named Choi In-hyuk, former chief operating officer. .. Most responsible.

Hee-seop Choi resigned as Chief Operating Officer of Neighbor after the incident, but retains senior positions at other affiliates of Korean companies. Neighbors have so far claimed that his posts at other companies have nothing to do with the case.

If you or someone you know in South Korea needs to help contact one of these services:

  • 15770199 Crisis Counseling Center
  • Lifeline Korea of ​​15889191
  • 129 Hope Call
  • Teens and children call in 1388
  • 02 20754180/4181 Seoul Global Center

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