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 [...]
SEOUL, Feb. 23 (Korea Bizwire) – Kakao Corp. halted its recruitment of experienced workers with South Korea’s IT industry engulfed in a hiring freeze due to the current economic slump. According to industry sources, the tech giant notified all of the individuals who were preparing for the recruitment process for experienced developers that their applications [...]
SEOUL, Feb. 14 (Korea Bizwire) — South Korea’s antitrust regulator said Tuesday it has decided to slap fines of 25.7 billion won (US$20 million) on Kakao Mobility Corp., the nation’s leading taxi-hailing service, for manipulating its algorithm to give more calls to cabs under its franchise. The punishment on the operator of the app, Kakao [...]
SEOUL, Feb. 10 (Korea Bizwire) — Kakao Corp., the operator of the country’s top mobile messenger, said Friday its 2022 net income fell 38 percent due to a base effect. The company’s net profit totaled 1.02 trillion won (US$810.2 million) on a consolidated basis in 2022, compared with a profit of 1.64 trillion won a [...]
SEOUL, Feb. 7 (Korea Bizwire) — Kakao Corp., the operator of South Korea’s biggest mobile messenger KakaoTalk, said Tuesday that it has acquired a 9.05 percent stake in the K-pop powerhouse SM Entertainment Co. as part of its strategy to strengthen its entertainment business. The company purchased 1.23 million shares for 217.2 billion won (US$173 [...]
SEOUL, Jan. 13 (Korea Bizwire) — Employees at Kakao Corp., the operator of South Korea’s largest messenger app KakaoTalk, are joining the labor union to protest the company’s recent announcement that all employees should come to the office for work, instead of working from home. The members of the Korean Confederation of Trade Unions Kakao [...]
SEOUL, Dec. 29 (Korea Bizwire) — Kakao Corp., the operator of South Korea’s most popular mobile messenger, KakaoTalk, said Thursday it will give cash compensation to all small business owners for damage caused by the massive service disruption stemming from a fire at its data center. The fire at a building that houses Kakao’s data [...]
SEOUL, Dec. 23 (Korea Bizwire) — Kakao Corp., the operator of South Korea’s dominant messaging app KakaoTalk, announced that it has added a new function enabling users to “sneak out” of team chat rooms without informing other team members. Team chat rooms are usually opened by team leaders who use a pay-based data backup service. [...]
SEOUL, Dec. 7 (Korea Bizwire) — Kakao Corp., the operator of South Korea’s largest messenger app KakaoTalk, said Wednesday that it will increase investment to set up multiple backup storage systems on all its servers in a bid to prevent a service outage stemming from a data center disaster. Due to a fire on Oct. [...]
SEOUL, Dec. 6 (Korea Bizwire) — The ICT ministry said Tuesday it will order the country’s top mobile messenger operator Kakao Corp. to come up with measures within a month to prevent a recurrence of a service outage stemming from a data center fire. The move came after a fire on Oct. 15 at the [...]