Tencent's headquarters building in Shenzhen, China (Courtesy of Tencent) Chinese tech giant Tencent Holdings Ltd. has emerged as a surprise contender in a race to acquire a roughly 40% stake in Kakao Mobility Corp., the operator of South Korea’s leading ride-hailing app, Kakao T. Th
Kakao Pay is the mobile payment and digital wallet service unit of top Korean web portal Kakao Kakao Pay Corp., the mobile payment and digital wallet service unit of South Korean tech giant Kakao Corp., is in advanced negotiations to acquire two mobile payment units of retail giant Shinsegae Gr
Kakao Mobility was founded in 2017 United Arab Emirates’ sovereign wealth fund Mubadala Investment Co. and Goldman Sachs are set to invest a combined $700 million in Kakao Mobility Corp., South Korea’s largest taxi-hailing app, to take over shares from its financial investors, inclu
KakaoBank is South Korea's top internet-only bank KakaoBank Corp., a leading South Korean internet-only bank, posted its highest quarterly profit in the first quarter, defying a drop in interest income, as the digital lender saw a surge in non-interest revenue and platform usage.The online bank
Kakao Corp. shares underperformed its peers and the broad market on Friday after SK Telecom Co. sold off its entire stake in the South Korean platform giant for about 400 billion won ($278.2 million).The country’s largest mobile carrier announced earlier today in a regulatory filing that
Kakao installs an outdoor billboard for Kakao Webtoon in Thailand (Courtesy of Kakao Entertainment) Kakao Corp., South Korea’s largest mobile platform, is looking to sell a majority stake in Kakao Entertainment Corp., dropping a plan to take it public following the sharp stock market down
Kakao Corp. founder Kim Beom-soo (Courtesy of Kakao) Kakao Corp. founder Kim Beom-soo, also known as Brian Kim, will step down as chairman of the South Korean tech giant’s top decision-making body, heralding an end to the company’s emergency management phase. The resignation comes a
(Courtesy of Getty Images) South Korea’s top financial regulator has proposed loosening restrictions on financial holding companies’ ownership of fintech platforms from the current 5% to 15% in the first such shift since introducing the ownership limit in 2000.The Financial Services
Yun Hoyoung, CEO of KakaoBank (left) and Arthid Nanthawithaya, CEO of SCBX South Korea's KakaoBank Corp. said on Sunday it partnered with Thailand’s financial giant SCBX to establish a local virtual bank. The new venture, modeled on South Korea’s digital-only banki
South Korea's Shinhan Card Co. and the domestic internet bank KakaoBank Corp. said on Wednesday that they signed a business agreement to develop and jointly market a private label credit card (PLCC).The two companies plan to launch the KakaoBank PLCC for customers using KakaoBank in the first
South Korea's KakaoBank Corp. announced on Tuesday its decision to invest in Indonesia's digital banking entity PT Super Bank Indonesia.This move places KakaoBank alongside major consortium stakeholders like Southeast Asia's top super app Grab, and Singapore Telecom.The investment emphasizes