Kurly plans to issue around 453,518 new shares by early August in a stock-swap deal that will make the startup its wholly owned subsidiary.
The two companies have already been jointly developing AI-related technologies, with plans to expand the use of AI across their business, from customer service and advertising to the development of new products and services.
According to Kurly, it uses artificial intelligence to automate routine tasks such as producing advertising banners and product images, from planning and design through to final delivery. It also uses AI to handle customer service tasks like inquiries, cancellations, and returns, processing about 40 percent of requests on the same day.
The upcoming acquisition comes as the company looks for new growth opportunities after postponing its initial public offering (IPO) in 2023 due to a market downturn that sharply reduced valuations.
Founded in 2015, Kurly was among the frontrunners in offering overnight grocery delivery in South Korea through its signature "dawn delivery" service, which allows customers to receive fresh food orders by the next morning.
The company was valued at about 4 trillion won (US$3 billion) at its peak in late 2021 after raising 250 billion won in a pre-IPO funding round led by Hong Kong-based private equity firm Anchor Equity Partners. Its valuation later dropped sharply as investor appetite weakened.
Since postponing its IPO, Kurly has focused on improving profitability. It posted record first-quarter results in 2026, with revenue up 28.4 percent from a year earlier to 745.7 billion won and operating profit jumping to 24.2 billion won.
"The acquisition would help the company strengthen its AI capabilities," said Kurly Chief Executive Sophie Kim.
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