SEOUL, Oct. 21 (Korea Bizwire) — South Korea’s antitrust regulator said Friday it plans to come up with measures to build grounds for fair competition in the online platform market amid growing criticism that the government has failed to properly monitor Kakao Corp.’s dominant position in the market. The move came after nearly all services [...]
SEOUL, Oct. 19 (Korea Bizwire) — The recent massive disruption of Kakao Corp.’s dominant chat messenger KakaoTalk and other related services has affected nearly all sectors of South Korea, ranging from social networking and business to finance and transportation. It took about four days for the company to fully repair damaged servers and normalize all [...]
SEOUL, Oct. 19 (Korea Bizwire) — A top executive of Kakao Corp. stepped down Wednesday to take responsibility for the recent disruption of the company’s mobile messenger KakaoTalk and other related services. “As a CEO of Kakao, I feel miserable and strongly responsible for the incident. So I am stepping down from the post,” Kakao’s [...]
SEOUL, Oct. 17 (Korea Bizwire) – Shares in Kakao Corp., the operator of South Korea’s dominant messaging app KakaoTalk, and its affiliates fell sharply Monday after a massive service disruption over the weekend stemming from a fire at a data center. Kakao dropped 5.93 percent to close at 48,350 won (US$33) on the KOSPI, the [...]
SEOUL, Oct. 16 (Korea Bizwire) — A fire at a data center near Seoul has disrupted services of South Korea’s dominant messenger and internet portal for a day, affecting nearly all sectors of the country, even finance and transportation. The fire broke out at 3:33 p.m. Saturday at the building of SK C&C located in [...]
SEOUL, Oct. 15 (Korea Bizwire) — South Korea’s two major tech giants — Kakao Corp. and Naver Corp. — suffered a service malfunction on Saturday due to a fire at a data center, officials said. The blaze broke out at around 3:33 p.m. at the building of SK C&C located in Pangyo, just south of [...]
SEOUL, Aug. 19 (Korea Bizwire) — Naver Corp. and Kakao Corp., the two major South Korean tech companies, drastically cut their outside investments in the first half of this year, in stark contrast to last year when they invested heavily in the acquisition of startups. Naver invested a total of 44.6 billion won (US$33.6 million) [...]
SEOUL, Aug. 18 (Korea Bizwire) — Kakao Corp. said Thursday it has canceled its plan to sell part of its shares of Kakao Mobility Corp. to a private equity fund over repeated demands from the company union to scrap the plan. The South Korean tech giant, which currently owns a 57.5 percent stake in Kakao [...]
SEOUL, Aug. 4 (Korea Bizwire) — Kakao Corp., the operator of South Korea’s top mobile messenger KakaoTalk, said Thursday its second-quarter net profit fell 68 percent from a year earlier due to a base effect. Kakao logged a net profit of 101.2 billion won (US$77.2 million) on a consolidated basis in the three months ending [...]
SEOUL, July 13 (Korea Bizwire) — Kakao Corp., operator of South Korea’s most popular messaging app KakaoTalk, has decided to remove an external payment link from the Android version of the software, following a standoff with Google over the U.S. tech giant’s new in-app payment policy, sources said Wednesday. The standoff between the two companies [...]