ONE Store and HAPPYTUK Partner to Launch Alternative App Market in Taiwan
Wednesday, March 27, 2024
-- 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
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