South Korean portal site Naver's market leadership position in jeopardy

Naver, which has been the leader in the Korean portal market for 20 years, is now facing a major threat from the rise of Instagram and Google.
Among them, the survey results showed that Instagram surpassed Naver in the categories of "longest-used apps (time spent)" and "frequently used apps (number of launches)" for the second consecutive month. The gap is getting even wider.
Naver's stock price has also plummeted, dropping from a high of 400,000 won (US$450) to a historic low of 170,000 won (US$190).
In the search market, Google is also rising rapidly, shaking Naver's stronghold. On the 9th, app retail analysis service Wise App Retail Goods
According to a sample survey of smartphone users, Instagram recorded 389.94 million hours of usage in May, surpassing Naver and ranking third after YouTube and KakaoTalk.
Instagram ranked 3rd. Based on usage time, Instagram was in 4th place behind Naver until March. However, it overtook Naver for the first time in April, and the gap widened further in May.
The difference in usage time between Instagram and Naver more than tripled, from 13.86 million hours in April to 46.42 million hours in May.
Instagram also maintained second place in the "frequently used apps" category, widening the gap with Naver.
Last month, Instagram's launches in South Korea reached 17,855,250,000,000, ranking second only to KakaoTalk, while Naver came in third with 14,391,310,000,000.
In the Korean search market, Naver's stronghold is also being shaken by the threat of Google. Naver's market share is still at the 60% level, but Google's rapid rise has narrowed the gap.
The number of users of Naver has halved from the 40% range to the 20% range. Above all, it is analyzed that the main reason why Naver is being overtaken by Instagram is the influence of its short video service.
While Lam's short-form service "Reels" has been hugely popular among young people, Naver has also released "Clip," but it has not yet reached the popularity of Instagram.
Meanwhile, the stock price has plummeted to a historic low (around 170,000 won) amid growing concerns about slowing growth, with shareholders expressing disbelief.
The majority of Naver stockholders are said to have suffered huge losses. Minority shareholders lamented, "We are suffering because of Naver's stock price."
Naver has 1 million minority shareholders, the second largest number after Samsung Electronics. Naver sees this situation as the biggest crisis in the company's history.
In response to the rise of forms, in the near future, search results from official government ministries and public institutions' websites will be linked to social media content such as Instagram and YouTube.
This is seen as a desperate measure to deal with the onslaught of platforms.