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Asia

South Korea's Science Ministry Picks SK Telecom, KT, Kakao as Leads for Public AI Service Project

South Korea's science ministry has chosen three teams led by SK Telecom (KRX:017670), KT (KRX:030200) and Kakao (KRX:035720) as business operators and creators of publicly accessible AI services, according to a Friday release.Each team will receive a total of 512 B200 graphics processing units (GPUs), with the government allocating budgets to cover expenses for launching the service next year.The parties will sign an agreement in September, with each of their services to be launched within the year.The move is part of the government's "Everyone's AI" initiative, which aims to provide the public free access to AI services.

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Asia

Market Chatter: KakaoBank Union Pushes for Better Wage Proposal Ahead of Five-Day Strike

KakaoBank's (KRX:323410) labor group has asked management for a better salary bargain ahead of a five-day strike, Yonhap News Agency reported Wednesday.The parties have been discussing a pay increase and other benefits, but a deal has not been reached yet, the report said.The union's strike will run from Aug. 31 to Sept. 4, although the group said it can be prevented with a better wage offer from the management, the report said.Parent company Kakao Corp. (KRX:035720) did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Research

Samsung Securities Downgrades Kakao to Hold from Buy; Price Target is KRW40,000

Kakao (KRX:035720) has an average rating of overweight and mean price target of 53,347.82 won, according to analysts polled by FactSet.

KRX:035720
Research

Meritz Securities Downgrades Kakao to Hold from Buy; Price Target is KRW37,000

Kakao (KRX:035720) has an average rating of overweight and mean price target of 53,347.82 won, according to analysts polled by FactSet.

KRX:035720
Asia

Kakao Board Approves 2026 Corporate Value-up Plan

Kakao (KRX:035720) said its board approved a 2026 corporate value-up plan, including a proposed spin-off leading to KakaoX creation, according to a Friday filing with the Korea Exchange.Under the plan, KakaoX will target a revenue of at least 10 trillion won, a compound annual growth rate of about 13% by 2030, strengthening business competitiveness, and narrowing its sum-of-the-parts discount.The South Korean mobile and online platforms operator also plans to expand shareholder returns through dividends and repurchases, including the cancellation of 300 billion won worth of shares over three years following the spin-off.

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Asia

Kakao to Split Into Kakao X, Kakao AI; Shares Fall 10%

Kakao (KRX:035720) will split into two companies, with Kakao X serving as the surviving company, according to a Friday filing with the Korea Exchange.The board-approved spinoff will also lead to the creation of Kakao AI, which will handle the KakaoTalk-based platform business and AI segment.Following the split, Kakao X will focus on techfin, content and mobility.The company has placed the split-off ratio at about 0.36 for Kakao AI and about 0.64 for Kakao X.The company's existing shareholders will each receive Kakao AI and Kakao X shares proportionate to their holdings.The split will be effective on Jan. 1, 2027, with the relisting of Kakao AI and the revised listing of Kakao X to be conducted on Jan. 27, 2027.Shares of the company fell more than 10% in recent trade.

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Asia

South Korean Shares Close Sharply Higher on Strong Shareholder Return Hopes from Chipmakers

South Korean shares closed sharply higher on Thursday after two consecutive days of losses, with the primary index climbing 6% after investors pinned high hopes on strong shareholder returns from Samsung Electronics (KRX:005930) and SK hynix (KRX:000660).Investor hopes came after SK Hynix on Wednesday approved a 40 trillion won share repurchase and cancellation plan. The buyback is set to begin Aug. 20 and run for about three months. Samsung Electronics' shareholder return policy is expected to be announced later in August. Shares of SK Hynix and Samsung Electronics added nearly 13% and over 9%, respectively, at market close.The Korea Composite Stock Price Index, or Kospi, increased by 381.41 points, or 5.9%, to close at 6,852.58. The Kosdaq also rose by 16.43 points, or 2%, to close at 840.89.In corporate news, Kolon Corporation's (KRX:002020) subsidiary Kolon Global (KRX:003070) secured an order worth 104.8 billion won for the Pyeongtaek P5 water purification plant (Phase 3) from Samsung Electronics, according to a Thursday filing with the Korea Exchange.The project is being disclosed after an amended contract raised its value above the applicable disclosure threshold. The initial contract was signed on June 9, 2025.Shares of Kolon Corporation fell over 3% at market close, while those of Kolon Global added 2%.In other news, Kakao Corp. (KRX:035720) subsidiary and taxi-hailing and mobility platform Kakao Mobility has confidentially filed for an initial public offering in the U.S. in June and seeks to raise about $1 billion, Yonhap News reported Thursday, citing a financial market tracker.Bank of America, Morgan Stanley, and UBS are listed as underwriters for the IPO, the report said.Kakao Mobility did not immediately respond to' request for comment.Shares of Kakao Corp. added over 3% at market close.

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Asia

Market Chatter: Kakao Mobility Confidentially Files for US IPO, Seeks to Raise $1 Billion

Kakao Corp. (KRX:035720) subsidiary and taxi-hailing and mobility platform Kakao Mobility has confidentially filed for an initial public offering in the U.S. in June and seeks to raise about $1 billion, Yonhap News reported Thursday, citing a financial market tracker.Bank of America, Morgan Stanley, and UBS are listed as underwriters for the IPO, the report said.Kakao Mobility did not immediately respond to' request for comment.Shares of Kakao Corp. added nearly 5% in recent trade.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Kakao Selected to Build AI Agent Marketplace in KRW 11 Billion Government Project

Kakao (KRX:035720) and its affiliate Kakao Enterprise have been selected as the implementing agency for South Korea's AI agent marketplace development support project, according to a statement on Thursday.The consortium aims to build an open ecosystem by December 2027, with the project valued at 11 billion won, combining public and private funding.The marketplace will serve as a one-stop platform where users can search for, combine, and execute AI agent services and tools, with the first phase launching this year and a second phase planned for 2027.Kakao will leverage its PlayMCP platform and AI Agent Builder, while Kakao Enterprise contributes cloud infrastructure and marketplace operational expertise from its existing cloud business.

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Asia

Market Chatter: Kakao to Focus on AI Services Over Infrastructure, Partners with Coupang Eats

Kakao (KRX:035720) will integrate Coupang Eats into its KakaoTalk-based agentic AI as part of a strategy to prioritize user-facing AI services over infrastructure investments like data centers, The Korea Times reported on Thursday, citing CEO Chung Shin-a.Shin-a, at the company's second-quarter earnings call, cited major upfront investment and rapid hardware obsolescence as reasons for avoiding AI infrastructure bets, the news daily said.The move reflects Kakao's strategy to leverage its messaging app ecosystem rather than competing in capital-intensive AI infrastructure, the publication said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

South Korean Shares Plunge 5% on Tech Losses; Samsung Loses 6%, SK Hynix 10%

South Korean shares plunged nearly 5% at market close on Thursday as losses incurred by technology stocks weighed on sentiment. Investors were particularly skeptical about the AI industry.Shares of key market movers Samsung Electronics (KRX:005930) and SK Hynix (KRX:000660) declined over 6% and 10%, respectively, taking a toll on the primary index.The Korea Composite Stock Price Index, or Kospi, decreased by 301.88 points, or 4.6%, to close at 6,296.38. The Kosdaq rose by 2.08 points, or 0.3%, to close at 801.67.In economic news, South Korea's current account surplus stood at $49.73 billion in June, up from $38.6 billion in May, according to preliminary data from the Bank of Korea on Thursday.The figure surpassed Trading Economics' forecast of $34.7 billion and marked the largest surplus on record.Goods account surplus jumped to $47.9 billion from $37.9 billion as exports surged 84.5% to $112.4 billion, while the services account logged a larger deficit of $1.29 billion as compared to $1.09 billion in May.In corporate news, LIG Defense & Aerospace (KRX:079550) posted a second-quarter net income attributable to shareholders of the parent of 82.6 billion won, down 23% from 107.1 billion won a year earlier.Sales, on the other hand, increased 17% to 1.11 trillion won from 945.4 billion won, according to a Thursday filing with the Korea Exchange.Shares of the company declined 12% at market close.

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Kakao's Quarterly Profit Drops on One-Off Losses; Core Business Delivers
US Markets

Kakao's Quarterly Profit Drops on One-Off Losses; Core Business Delivers

Kakao (KRX:035720) posted a sharp drop in second-quarter profit as one-off losses related to discontinued operations and subsidiary stake disposals overshadowed strong growth in revenue and operating profit.Profit attributable to owners of the parent plunged 90% to 16.3 billion won in the quarter ended June 30 from 161.2 billion won a year earlier, according to the company's earnings release on Thursday.Sales rose 3.5% to 2.098 trillion won from 2.028 trillion won, while operating income jumped 49% to 277 billion won from 185.9 billion won.Kakao said net profit was weighed down by a 181 billion won loss from discontinued operations and an income tax expense related to the deconsolidation and disposal of stakes in subsidiaries.Platform revenue grew on the back of strong performance across advertising, subscriptions, and platform businesses.Talk Biz benefited from robust demand for business messaging and higher advertising spending following the introduction of feed-based ad products.The company said business messaging revenue rose 20% year-over-year, while Talk display advertising revenue increased 28%.Kakao Pay also posted record quarterly revenue and operating profit, driven by growth in financial services.KakaoTalk's domestic monthly active users reached 49.6 million during the quarter, approaching the 50 million mark.Meanwhile, content revenue was supported by stronger music performance, partly offset by weaker story revenue as softer user traffic weighed on Piccoma.

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Asia

Kakao's Q2 Attributable Income Plunges 90%

Kakao (KRX:035720) posted second-quarter net income attributable to shareholders of 16.3 billion won, down 90% from 161.2 billion won a year earlier, according to a Thursday filing with the Korea Exchange.The South Korean internet company's revenue rose 3.5% year over year to 2.098 trillion won from 2.028 trillion won.Shares of Kakao fell over 2% in recent trade.

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Asia

Market Chatter: Kakao, Labor Union Reach Tentative Wage Deal

Kakao Corporation (KRX:035720) has reached a tentative wage deal with its labor union, bringing the nearly two-month-long dispute over performance-based compensation and job security closer to an end, Pulse News reported last week, citing industry sources.The terms of the deal will remain confidential until the agreement is finalized following a union ratification vote and formal signing by both parties.Kakao Corporation did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

South Korean Shares Close Sharply Lower on Escalated US-Iran Military Conflict, Oil Price Jump

South Korean shares broke a three-day winning streak to close sharply lower on Friday, amid escalating tensions in the Middle East.The U.S. carried out a 13th straight night of strikes on Iran on Thursday, targeting military sites and commercial establishments, while Yemen's Iran-backed Houthi rebels said they attacked two Saudi oil tankers in the Red Sea. In addition, these escalations led to oil prices climbing above $100 a barrel.The Korea Composite Stock Price Index, or Kospi, decreased by 406.27 points, or 5.7%, to end at 6,690.62. The Kosdaq also fell by 42.06 points, or 5.3%, to close at 748.22.In corporate news, Samsung Electronics' (KRX:005930) decision to award bonuses of over $400,000 to some of its employees has led to labor protests across major firms in South Korea, Bloomberg News reported Friday.Assembly-line workers at automaker Hyundai Motor (KRX:005380) plan to carry out a three-day partial strike next week to demand bonuses of up to 30% of consolidated profit, while unions at HD Hyundai Heavy Industries (KRX:329180) and LG Uplus (KRX:032640) are seeking payouts equal to at least 30% of operating profit, the report said.Employees at Hanwha Aerospace (KRX:012450) and HD Hyundai Electric (KRX:267260) seek bonus limitations removed, while workers at internet giant Kakao Corporation (KRX:035720) are demanding up to 15% of operating profit for bonuses, and technology firm Naver's (KRX:035420) union is establishing a coalition with affiliate unions to boost negotiations, Bloomberg News said.Kakao Corporation could not be reached, while Hyundai Motor, HD Hyundai Heavy Industries, LG Uplus, Hanwha Aerospace, HD Hyundai Electric, and Naver did not immediately respond to' request for comment.Shares of Samsung Electronics fell nearly 8%, those of Hyundai Motor and HD Hyundai Electric declined 7%, while shares of HD Hyundai Heavy Industries fell nearly 3% at market close. Shares of Hanwha Aerospace added over 2%, while shares of Kakao and Naver declined 3% and 6%, respectively.In other news, KB Financial Group (KRX:105560) posted a 3.2% year-over-year decline in profit attributable to owners of the parent to 1.124 trillion won from 1.161 trillion won for the second quarter, according to a Friday filing with the Korea Exchange.Net sales fell 17% to 11.8 trillion won from 14.2 trillion won for the three months ended June 30.Shares of KB Financial slipped 3% at market close.

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Asia

Market Chatter: Samsung Electronics' $400,000 Bonus Leads to Labor Protests Across South Korea

Samsung Electronics' (KRX:005930) decision to award bonuses of over $400,000 to some of its employees has led to labor protests across major firms in South Korea, Bloomberg News reported Friday.Assembly-line workers at automaker Hyundai Motor (KRX:005380) plan to carry out a three-day partial strike next week to demand bonuses of up to 30% of consolidated profit, while unions at HD Hyundai Heavy Industries (KRX:329180) and LG Uplus (KRX:032640) are seeking payouts equal to at least 30% of operating profit, the report said.Employees at Hanwha Aerospace (KRX:012450) and HD Hyundai Electric (KRX:267260) seek bonus limitations removed, while workers at internet giant Kakao Corporation (KRX:035720) are demanding up to 15% of operating profit for bonuses, and technology firm Naver's (KRX:035420) union is establishing a coalition with affiliate unions to boost negotiations, Bloomberg News said.Kakao Corporation could not be reached while Hyundai Motor, HD Hyundai Heavy Industries, LG Uplus, Hanwha Aerospace, HD Hyundai Electric, and Naver did not immediately respond to' request for comment.Shares of Samsung Electronics fell over 8%, those of Hyundai Motor and HD Hyundai Electric declined over 9% and 7% respectively, while shares of HD Hyundai Heavy Industries fell more than 2% in recent trade. Shares of LG Uplus declined over 1% while those of Hanwha Aerospace added nearly 3%. Shares of Kakao and Naver declined nearly 4% and over 7%, respectively.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

South Korean Shares Close Higher for Second Day on Overnight Wall Street Gains

South Korean shares closed higher on Wednesday for a second straight day on overnight Wall Street gains, ahead of second-quarter earnings releases of US big tech companies.U.S. stocks rebounded on Tuesday, with the Dow Jones Industrial Average gaining 0.74%, the S&P 500 adding 0.89% and the Nasdaq Composite climbing 1.3%, as all three indexes snapped three-day losing streaks.The Korea Composite Stock Price Index, or Kospi, increased by 49.75 points, or 0.7%, to end at 6,797.7. The Kosdaq fell by 2.25 points, or 0.3%, to close at 751.09.In economic news, South Korea's producer price index (PPI) increased 8.6% year over year in June, according to preliminary data from the Bank of Korea released on Wednesday. The reading remained unchanged from the previous month but exceeded Trading Economics' forecast of 8.2%.PPI inflation across agricultural, forestry and marine products, and services was unchanged in June from May, while that of manufacturing products slowed. Out of all the primary sectors, only utilities posted an acceleration in producer price growth.On a month-over-month basis, South Korea's PPI was flat after rising for nine straight months.In corporate news, Hyundai Motor Group, the parent of Hyundai Motor (KRX:005380) and Kia (KRX:000270), introduced an integrated vehicle-to-everything (V2X) service called AllDayEnergy around the world, which would allow electric vehicles to double as mobile energy sources.The automotive group will work with Hana Financial Group (KRX:086790) subsidiary Hana Bank to introduce "AllDayEnergy My Heart Savings Account," Hyundai Motor Group said in a Tuesday release.V2X allows two-way power flow between electric vehicle batteries and the grid, enabling users to lower charging costs and generate revenue. The service stores electricity during off-peak hours and supplies it when the requirement is higher, it said.Shares of Hyundai Motor jumped nearly 5% while those of Kia added about 2% at market close.In other news, Unionized workers at Kakao Corporation (KRX:035720) subsidiary Kakao Bank voted to carry out a full-scale strike on July 31 after failed talks with management over salary hikes and other benefits, Yonhap News reported Wednesday.The bank's union and management are at odds over wages and benefits after no agreement was reached during negotiations, despite the bank posting record first-quarter operating income and revenue, the report said.Kakao Corp. has also faced continued wage-related disputes, with union members carrying out strikes last month, according to the report.The company did not immediately respond to a request for comment from.Shares of Kakao Corp. added nearly 1% at market close.

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Asia

Market Chatter: Kakao Bank's Unionized Workers to Hold Full-Scale Strike on July 31

Unionized workers at Kakao Corporation (KRX:035720) subsidiary Kakao Bank voted to carry out a full-scale strike on July 31 after failed talks with management over salary hikes and other benefits, Yonhap News reported Wednesday.The bank's union and management are at odds over wages and benefits after no agreement was reached during negotiations, despite the bank posting record first-quarter operating income and revenue, the report said.Kakao Corp. has also faced continued wage-related disputes, with union members carrying out strikes last month, according to the report.The company did not immediately respond to a request for comment from.Shares of Kakao Corp. added over 2% in recent trade.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

KRX:035720
Asia

Market Chatter: Kakao Mobility, Renault Korea Sign MOU on Connected Vehicle Services

Kakao's (KRX:035720) mobility subsidiary Kakao Mobility and Renault Korea have signed a memorandum of understanding to collaborate on connected vehicle and future mobility technologies, Yonhap News Agency reported Wednesday, citing company statements.As part of the deal, The companies will work on high-precision mapping, software solutions for advanced driver assistance systems and in-vehicle infotainment and connectivity services.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

KRX:035720
Research

CLSA Starts Kakao at Hold with KRW42,000 Price Target

Kakao (KRX:035720) has an average rating of overweight and mean price target of 67,240 won, according to analysts polled by FactSet.

KRX:035720

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