SEOUL, Nov. 3 (Korea Bizwire) — Kakao Corp. on Thursday reported a third-quarter net income of 137.2 billion won (US$96.8 million), down 84.2 percent from a year earlier due to a base effect. The company said in a regulatory filing that it posted 150.3 billion won in operating profit for the quarter, compared with 168.2 [...]
SEOUL, Oct. 24 (Korea Bizwire) — The recent service outage of Kakao Corp. has put a spotlight on seniors sidelined from the digital era, as the inconvenience that the younger generation had to go through for a couple of days is similar to what seniors experience every day. For seniors, Oct. 15-16 were just like [...]
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 [...]