Kakao - TechWire

Kakao

2025.10.21

10:35

A South Korean court dropped stock manipulation charges against Kakao founder Kim Beom-soo. Kakao shares rose 3.9% in Seoul trading.

2025.04.18

08:50

South Korean entertainment stocks surge as Lee Jae-myung proposes budget expansion

South Korean entertainment stocks, including TV drama producers and K-pop agencies, rose. Lee Jae-myung, former leader of the opposition party, said on Facebook that if elected, his government would "substantially increase" the budget for culture and entertainment to 1.33% of total national spending in 2024 and offer incentives including tax breaks. He said exports from South Korea's cultural content and entertainment industries would reach 50 trillion won by 2030. Webtoon KidariStudio rose as much as 15% to its highest since Nov. 4, Mr. Blue rose 17%, D&C Media rose 7%, Daewon Media rose 3.3%, Kakao rose 1.4% and Naver rose 1.3%. K-pop agency YG Entertainment rose 3.7%, SM Entertainment rose 3.5%, JYP Entertainment rose 3.1% and Hybe rose 2.2%. TV drama/film producer and distributor Studio Dragon rose 4.4%.

2025.02.03

13:56

According to Yonhap News Agency: OpenAI founder Sam Altman is expected to announce a collaboration with South Korean technology company Kakao on Tuesday.

2025.01.20

09:24

Didi launches overseas aggregated travel services, and its international online car-hailing business is already profitable

According to media reports, Didi is currently promoting two new actions overseas. The first is to launch overseas aggregated travel services on the domestic App. Didi aggregates and distributes orders by opening up access to transportation service providers and Didi's international business. Chinese users in eight countries, including South Korea, Japan, Singapore, Malaysia, Thailand, Indonesia, Cambodia and Vietnam, can also use Didi to call local online ride-hailing cars such as Grab and Kakao T. The second is to continue to deepen the Latin American market and expand instant delivery business. In addition to supermarkets and grocery merchants in markets such as Brazil, it will also deliver goods to local e-commerce merchants in the future. Didi International currently covers three major businesses: overseas online ride-hailing business is profitable, with an average daily order volume of nearly 10 million orders; food delivery business has become the first in Mexico, with a market share of more than 50%; financial business issues hundreds of millions of dollars in loans each year, ranking in the first echelon of consumer finance in Latin America.

2024.07.24

07:17

Kakao founder arraigned by prosecutors after arrest

Asia Tech Wire (July 24) -- Kim Beom-soo, the founder of South Korean IT giant Kakao, who was arrested for alleged stock manipulation, was arraigned by prosecutors at a detention center on Wednesday.

2024.07.23

03:31

Kakao founder arrested for alleged stock manipulation

Asia Tech Wire (July 23) -- Kim Beom-soo, founder of South Korean IT giant Kakao, was arrested by South Korean prosecutors on Tuesday on suspicion of maliciously manipulating stock prices during the acquisition of SM Entertainment.

2024.07.22

07:51

Kakao founder attends pre-trial detention hearing over alleged stock manipulation

Asia Tech Wire (July 22) -- Kim Beom-soo, the founder of South Korean Internet giant Kakao, appeared at a pre-trial detention hearing on Monday for allegedly maliciously manipulating stock prices during the acquisition of SM Entertainment, according to Yonhap News Agency.

2024.07.17

08:40

S. Korean prosecutors request arrest of Kakao founder

Asia Tech Wire (July 17) -- South Korean prosecutors have requested the arrest of Kim Beom-soo, the founder of South Korean Internet giant Kakao.

03:33

South Korea's Kakao mulls sale of gaming, entertainment business

Asia Tech Wire (July 17) -- South Korean tech giant Kakao Corp. is considering selling its gaming and entertainment business, according to the Dong-A Ilbo.

2024.07.09

03:51

Kakao founder summoned for questioning over alleged stock manipulation

Asia Tech Wire (July 9) -- Kim Beom-soo, the founder of South Korean tech giant Kakao Corp., came under questioning by prosecutors on Tuesday on suspicion of manipulating stock prices during his acquisition of South Korean K-pop agency SM Entertainment last year.

2024.05.23

06:56

S. Korean internet giant Kakao fined $11 million for leaking user data

Asia Tech Wire (May 23) -- A regulator has fined South Korean Internet giant Kakao 15.1 billion won (a$11 million) for leaking user data.

2022.03.14

06:08

Kakao founder steps down from board

Asian Tech Press (Mar. 14) -- Kim Beom-soo, the founder of South Korean Internet giant Kakao Corp. (KRX: 035720), has stepped down from the board of the company.

2022.02.25

04:08

Kakao's chief nominee vows to boost stock price back to over $125

Asian Tech Press (Feb 25) -- The nominee for chief executive of South Korean Internet giant Kakao Corp. (KRX: 035720) vowed Thursday that he will bring the company's stocks back above 150,000 won ($125) within his term.

2021.09.14

08:27

Kakao founder falls from South Korea's richest person amid antitrust probe

Asian Tech Press (Sep 14) -- Kim Beom-soo, the founder of South Korean Internet giant Kakao Corp. (KRX: 035720), has fallen from the top position in a list of the country's richest people after local media revealed that he is under investigation by the country's antitrust regulators.

2021.09.09

06:47

Kakao, Naver tumble amid concerns over tougher regulations in South Korea

SEOUL, Sept. 8 (Yonhap) -- Shares in South Korean tech giants Kakao Corp (035720.KS) and Naver Corp (035420.KS) plummeted Wednesday amid growing concerns that new regulations may be introduced to curb their dominance in the market.

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