ONE Store and HAPPYTUK Partner to Launch Alternative App Market in Taiwan

Rhea-AI Summary

ONE Store partners with HAPPYTUK to launch a local app market in Taiwan by year-end, aiming for global expansion. The collaboration includes platform, ecosystem, and marketing plans, with strategic partnerships with key players like Krafton and Digital Turbine.

Market Analyst

The collaboration between ONE Store and HAPPYTUK represents a strategic move to tap into the Taiwanese market, which could have significant implications for both companies' market shares and revenue streams. The partnership leverages ONE Store's platform and HAPPYTUK's local market expertise, potentially creating a formidable presence against established global competitors. The focus on integrating multiple payment options is indicative of a tailored approach to meet regional consumer preferences, which is a critical factor in gaining market acceptance.

Furthermore, the recent investments from major entities like Krafton, Digital Turbine and Microsoft suggest a strong vote of confidence in ONE Store's growth trajectory and its potential to disrupt the current app market dynamics. The mention of the Digital Markets Act hints at regulatory tailwinds that may favor alternative app markets, presenting a timely strategic advantage for ONE Store's expansion efforts.

Financial Analyst

ONE Store's aggressive fundraising and strategic partnerships are key indicators of its expansionary strategy and could have an impact on investor sentiment. The USD 50 million investment from Digital Turbine, in particular, is a substantial capital infusion that could support the development of ONE Store's platform and ecosystem. This move may also suggest future revenue-sharing or cross-promotion opportunities that could enhance profitability for both parties.

Investors should monitor the execution of ONE Store's global expansion plans, as successful entry into new markets like Taiwan could lead to increased earnings and market valuation. However, the costs associated with these expansion efforts, including marketing and operational expenditures, will likely affect short-term profitability. The long-term benefits, assuming successful market penetration, could offset these initial costs.

Gaming Industry Specialist

The gaming industry is characterized by intense competition and high user acquisition costs. By partnering with HAPPYTUK, ONE Store gains access to a large user base and an extensive catalog of game titles, which could provide a competitive edge. The emphasis on sourcing game content locally is a strategic move that aligns with the increasing demand for culturally relevant and localized gaming experiences.

Additionally, the partnership's potential impact on indie developers and smaller game studios should be considered, as it could offer them an alternative platform to showcase their games, diversifying their distribution channels beyond the dominant players. This could foster innovation and competition within the gaming industry, benefiting both creators and consumers.

• ONE Store and HAPPYTUK Collaborate on Platform, Ecosystem, Operations, and Marketing
• Plans to Launch Local App Market in Taiwan by Year-End, Accelerating Global Market Entry
• ONE Store Partners with Key Players like Krafton and Digital Turbine for Global Expansion

TAIPEI and SEOUL, South Korea, March 20, 2024 /PRNewswire/ -- ONE Store, Korea's second largest app market outperforming global competitors, announced that it has signed a platform and service agreement with HAPPYTUK, Taiwan's largest game publishing company, to provide an app market service targeting the Taiwanese market.

As a leading game publisher in Taiwan, HAPPYTUK operates subsidiaries across Mainland China, Hong Kong SAR, Korea, Japan, Thailand, and beyond. Since its establishment in 2012, HAPPYTUK has expanded its business beyond publishing to include game operation, marketing, and development, demonstrating comprehensive capabilities across the gaming industry. It owns mangtot5, a game-specialized portal with over 4 million members, boasting the largest membership base in Taiwan. Additionally, it offers the most extensive number of game titles among publishers in Taiwan.

ONE Store will provide its platform and developer ecosystem, while HAPPYTUK will manage platform operation and marketing. Both companies will collaboratively handle the sourcing of game content in Taiwan. ONE Store plans to open an alternative app market in Taiwan by the end of this year, based on this agreement.

Once the ONE Store and HAPPYTUK app market launches, developers can immediately offer services in both the Korean and Taiwanese markets by onboarding ONE Store. Both companies aim to assist developers with diverse promotional activities and ensure seamless service provision by integrating multiple payment options within Taiwan.

ONE Store, which is extending its reach into the global market beyond its position as a leading domestic app market, is accelerating this process by securing strategic partners one after another. Last month, ONE Store signed a cooperation agreement with Digital Turbine (Nasdaq: APPS), a global mobile platform company, securing a total investment of USD 50 million. Prior to this, in October of last year, ONE Store brought in KRW 20 billion from Krafton, and in 2021 USD 15 million from Microsoft (Nasdaq: MSFT) and Deutsche Telekom Capital Partners (DTCP). These strategic partnerships are paving the way for ONE Store's ambitious global expansion.

ONE Store plans to secure blockbuster games and accelerate its global expansion based on successful fundraising. Additionally, ONE Store has stepped up the expansion of overseas business based on global tailwinds from the movement to ensure fairer competition such as mandatory introduction of independent app markets (Digital Markets Act) which is underway in global markets including Europe and US.

"We are pleased to embark on a full-scale entry into the Asian market with HAPPYTUK, Taiwan's top publisher. With this agreement, ONE Store aims to make this year the starting point of expanding our overseas business and evolving into one of the most influential global app markets" said Peter Chun, CEO of ONE Store.

"We are delighted to provide customers with ONE Store, a leading app store in Korea. We look forward to a variety of games which we will provide going forward" said Ryan Yang, CEO of HAPPYTUK.

About ONE Store

ONE Store is Korea's leading app market, offering a diverse range of digital content including games, apps, and multimedia content. Building on over 10 years of successful app market experience and technology, ONE Store is now venturing into the global market. The major shareholders of ONE Store include SK Square, Naver, Microsoft, Krafton, KT, and LGU+.

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SOURCE ONE Store

What collaboration has been announced between ONE Store and HAPPYTUK?

ONE Store and HAPPYTUK have signed a platform and service agreement to launch an app market in Taiwan by the end of the year.

Who is HAPPYTUK and what are its capabilities in the gaming industry?

HAPPYTUK is Taiwan's largest game publishing company with subsidiaries across various countries. It operates mangtot5, a game-specialized portal with over 4 million members.

What are the roles of ONE Store and HAPPYTUK in this collaboration?

ONE Store will provide its platform and developer ecosystem, while HAPPYTUK will manage platform operation and marketing, with both companies handling game content sourcing in Taiwan.

Which strategic partners has ONE Store secured for global expansion?

ONE Store has partnered with Digital Turbine, Krafton, Microsoft, and Deutsche Telekom Capital Partners to accelerate its global expansion.

What is ONE Store's plan for the future based on successful fundraising?

ONE Store plans to secure blockbuster games and accelerate global expansion, focusing on overseas business growth and fair competition in global markets.