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The Naver Real Estate app will be discontinued and integrated into Naver Pay. A real estate tab was already created in the Naver Pay app in November 2023, but in order to reduce user inconvenience, the real estate app service will be provided until November when the app service is discontinued.
Naver Real Estate App started in collaboration with Mirae Asset Group Real Estate 114 and has provided real estate information in Korea for 12 years since its launch in 2012. There is no service that can follow it on the web. However, the number of monthly active users of the mobile app is 1.2 million based on the mobile index, ranking 3rd after Zigbang and Hogangnono.
Naver Pay has combined existing financial services, securities, and real estate to provide comprehensive information related to economic life. In June of last year, it also introduced a real estate/financial product search and comparison service in addition to payment and asset management services. The names of Naver Securities and Naver Real Estate have been changed to 'Naver Pay Securities' and 'Naver Pay Real Estate'.
Toss's financial one-app strategy comes to mind. If you only focus on existing payment services, it will not be easy to increase the value of the app because users will use it for a short time and then leave. In order to increase the number of users and usage time, it is advantageous to go with a one-app strategy. Securities and real estate seem to be provided as web views, so they can be updated flexibly.
However, integration can always be a double-edged sword. If the symbolic name of Naver Real Estate becomes a sub-brand of Naver Pay, its power will inevitably be weakened. Since it is a service that is difficult to make people who are not professional investors continue to use, it is important to remind them of it when necessary. In a situation where the word 'real estate app' is dominated by Zigbang, it has to go one step further to think of 'Naver Pay Real Estate'.
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