SEOUL, June 6 (Korea Bizwire) — KakaoTalk and Naver, two popular platforms in South Korea known as the “people’s messenger” and “people’s portal,” respectively, are facing a growing challenge from global tech giants. KakaoTalk’s position as the top platform for monthly active users (MAU) is being threatened by Google’s YouTube, with a narrow gap of 507,487 [...]
SEOUL, June 1 (Korea Bizwire) — Amidst controversy surrounding Naver Webtoon’s recent utilization of artificially intelligence (AI)-generated works, its main competitor is garnering attention by hosting a contest that appears to be mindful of this issue. Kakao Webtoon Studio announced that it will a guerrilla contest for six days starting Thursday. The contest explicitly states [...]
SEOUL, May 25 (Korea Bizwire) — South Korean tech giant Kakao Corp. said Wednesday it will join RE100 and transition to 100 percent renewable energy by 2040. RE100 is a global corporate initiative designed to shift energy use to renewable sources as a way to respond to climate change and other environmental issues. Kakao plans [...]
SEOUL, May 4 (Korea Bizwire) — Kakao Corp., the operator of South Korea’s top mobile messenger, said Thursday its first-quarter net income plunged 93.4 percent from a year earlier due to a base effect. The company’s net profit totaled 87.1 billion won (US$65.1 million) on a consolidated basis in the January-March period, compared with a [...]
SEOUL, March 28 (Korea Bizwire) — South Korean tech giant Kakao Corp. said Tuesday that it has secured a total 40 percent stake in SM Entertainment through a tender offer, gaining management control over the K-pop powerhouse. Earlier this month, Kakao and its entertainment unit, Kakao Entertainment Corp., had offered 150,000 won (US$115.4) per share [...]
SEOUL, March 14 (Korea Bizwire) — With Apple Pay’s imminent launch in the South Korean market, Samsung Electronics Co. is pushing to join hands with Kakao following its earlier partnership with Naver Corp. According to industry sources, the tech giant is now in talks with Kakao Corp. to mutually integrate mobile payment services between Samsung [...]
SEOUL, March 12 (Korea Bizwire) — Hybe, the K-entertainment powerhouse behind global superstar BTS, said Sunday it has decided to halt its bid to take over industry giant SM Entertainment in an agreement with Kakao Corp. The tech giant Kakao and its entertainment unit, Kakao Entertainment Corp., will have management control over SM Entertainment, while [...]
SEOUL, March 7 (Korea Bizwire) — South Korean tech giant Kakao Corp. on Tuesday announced a tender offer for SM Entertainment Co. shares to gain stable management control over the K-pop powerhouse and increase leverage to win the intensifying battle with Hybe. Kakao and its entertainment unit, Kakao Entertainment Corp., offered 150,000 won (US$115.4) per [...]
SEOUL, March 4 (Korea Bizwire) — A Seoul court on Friday blocked K-pop agency SM Entertainment Co.’s planned issuance of new shares and convertible bonds to an entertainment arm of tech giant Kakao Corp. The Seoul Eastern District Court granted an injunction filed by SM’s estranged founder Lee Soo-man, barring Kakao Entertainment’s deal to become [...]
SEOUL, Feb. 23 (Korea Bizwire) — SM Entertainment has agreed to give Kakao Entertainment, a subsidiary of technology firm Kakao Corp., exclusive rights to circulate its albums and music as part of its alliance with the tech giant against rival K-pop company Hybe’s takeover bid, music industry sources and investment banks said Thursday. They said [...]