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Chauffeur Industry Enraged over Kakao’s Acquisition of Smaller Firms

Chauffeur Industry Enraged over Kakao’s Acquisition of Smaller Firms

SEOUL, Sept. 29 (Korea Bizwire) — Small businesses are stepping up against internet giant Kakao Corp.’s offensive business expansion that is making life difficult for smaller industry players. The controversy flared up when Kakao’s mobility unit Kakao Mobility Corp., after announcing its plans to coexist with small businesses this month, recently acquired two additional chauffeur [...]

Kakao Creates 300 bln Won Fund for Small Merchants amid Growing Scrutiny over Market Dominance

Kakao Creates 300 bln Won Fund for Small Merchants amid Growing Scrutiny over Market Dominance

SEOUL, Sept. 14 (Korea Bizwire) — South Korean internet giant Kakao Corp. said Tuesday it has decided to form a 300 billion won (US$256.2 million) fund for small merchants and scrap some of its services that compete against them, in a move to appease growing scrutiny from regulators and politicians over its rapidly expanding online [...]

Regulator to Vet Unfair Biz Activity by Online Platforms

Regulator to Vet Unfair Biz Activity by Online Platforms

SEOUL, Sept. 10 (Korea Bizwire) — South Korea’s antitrust regulator said Friday it will closely look into unfair business activity by online platform giants here amid their increased market dominance, apparently targeting Naver Corp. and Kakao Corp. Concerns have mounted that powerful online platform operators have abused their dominant market status and engaged in unfair [...]

Kakao Surpasses Naver to Become S. Korea’s 3rd Most Valuable Firm

Kakao Surpasses Naver to Become S. Korea’s 3rd Most Valuable Firm

SEOUL, June 15 (Korea Bizwire) — Kakao Corp. has an insatiable appetite for platform businesses, spanning messenger, e-commerce, mobility, content and finance, and now it has earned another title: South Korea’s third-most valuable company. The nation’s dominant mobile messenger operator rapidly expanded its presence in the nation’s tech sector with a wide range of platform [...]