11 stories mentioning KRX:035720
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Kakao (KRX:035720) has an average rating of overweight and mean price target of 67,240 won, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
Unionized employees of Kakao Corp. (KRX:035720) will stage the company's first ever walkout on June 10, with around 600 members across five units expected to participate, according to a report by the Yonhap News Agency on Wednesday.The union is demanding 13% to 14% of last year's operating profits as performance-based incentives, the report said.Concurrently, the union is seeking a rework of the compensation structure, the report noted.However, the company management has so far rejected the demands citing them as a "huge burden" on fiscal operations, the report added.(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.)
Officials from Kakao (KRX:035720) and Korea's Ministry of Science and ICT met Monday to prepare for the impact of the messenger app operator's four-hour strike on Wednesday after wage negotiations faltered.The parties discussed contingencies in case of service interruptions of KakaoTalk and Kakao Maps, among other apps, the ministry said Monday.Shares fell 4% during late afternoon trading on Monday.
South Korean internet conglomerate Kakao (KRX:035720) and its labor union failed to reach an agreement after a second round of government-mediated negotiations, Reuters reported Thursday.The union is expected to go on strike in June as previously planned, a union representative told Reuters, following the failed discussions.The union has yet to confirm how many members across Kakao and four affiliates will join the strike, though around 700 members attended a rally on May 20. Kakao said that it would keep trying to reach common ground with its union, according to the news report.Shares of Kakao fell 1% at market close.(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.)
LG Innotek (KRX:011070) signed a memorandum of understanding with internet company Kakao (KRX:035720) subsidiary Kakao Mobility to develop autonomous driving solutions, according to a Wednesday release.Under the agreement, the planned autonomous driving solution will combine LG Innotek's high-performance sensing modules, including cameras, radar, and light detection and ranging (LiDAR), with Kakao Mobility's platform services and software, the release said.Shares of the South Korean materials and components manufacturer fell over 4% at market close, while those of Kakao declined more than 3%.
South Korean stocks plunged on Friday, with the Kospi closing below 7,500 points after briefly touching the 8,000-point threshold earlier in the day. Investors rushed to book profits after the historic milestone was achieved.The Kospi had opened slightly lower in the day but quickly rebounded, briefly surpassing the 8,000 mark before sharply reversing. The index later plunged to as low as 7,371.68, triggering a sell-side sidecar around 1:30pm, which was the first such measure since April 2.The Korea Composite Stock Price Index or Kospi decreased by 488.23 points, or 6.1%, to end at 7,493.18. The Kosdaq also declined by 61.27 points, or 5.1%, to close at 1,129.82.In economic news, South Korea's export prices rose 40.8% year-over-year in April, while import prices gained 20.2%, according to preliminary data from the Bank of Korea released on Friday.On a month-on-month basis, the export price index increased 7.1%, while the import price index declined 2.3%, the data showed.The net barter terms of trade index gained 14.3% on-year during the month.In corporate news, Hana Financial Group's (KRX:086790) Hana Bank will acquire 6.55% of crypto exchange operator Dunamu for 1.003 trillion won, the financial group said in a Friday filing with the Korea Exchange.The bank will acquire 2.28 million shares in the target on June 15, which are currently held by Kakao (KRX:035720) subsidiary Kakao Investment. The transaction will be settled in cash, the filing said.Shares of Hana Financial Group fell nearly 6% at market close, while those of Kakao declined over 4%.
Hana Financial Group's (KRX:086790) Hana Bank will acquire 6.55% of crypto exchange operator Dunamu for 1.003 trillion won, the financial group said in a Friday filing with the Korea Exchange.The bank will acquire 2.28 million shares in the target on June 15, which are currently held by Kakao (KRX:035720) subsidiary Kakao Investment. The transaction will be settled in cash, the filing said.Shares of Hana Financial Group fell over 4% in recent trade, while those of Kakao declined more than 2%.
Kakao (KRX:035720) has an average rating of buy and mean price target of 72,571.43 won, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
Kakao (KRX:035720) has an average rating of buy and mean price target of 72,571.43 won, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
Kakao (KRX:035720) posted a higher first-quarter net profit as strong growth in its platform and advertising businesses helped offset uneven performance in its content segment.Net profit rose 13% to 226.8 billion won from 200.3 billion won a year earlier.The South Korean internet company posted first-quarter net income attributable to shareholders of 171.7 billion won, little changed from 171.9 billion won a year earlier, according to a Thursday filing with the Korea Exchange.Revenue rose 11% to 1.94 trillion won from 1.75 trillion won, though the figure came in below the Visible Alpha estimate of 2.02 trillion won.Kakao's core platform division, which includes its mobility and Kakao Pay businesses, posted sales of 1.18 trillion won in the quarter, up 16% from a year earlier, supported by stronger advertising demand and growth in mobility and payment services.During an earnings call, Kakao's Chief Executive, Chung Shin-a, said the company plans to expand its agentic commerce business in the second half of the year, including AI-powered shopping services integrated into KakaoTalk."We are preparing with major vertical players, a proactive, end-to-end agent service that connects from search to payment," Chung said, according to Yonhap News Agency.She added that users are expected to experience an early version of Kakao's AI commerce service before the company's next earnings announcement.The company said domestic KakaoTalk monthly active users remained stable at about 49.6 million in the first quarter.Content revenue rose 4.7% to 759.4 billion won, supported by growth in its music and media businesses.Within content, stronger album sales and expanded global concerts lifted music revenue, while media revenue benefited from a higher number of titles contributing to revenue.Story revenue, however, remained under pressure amid weaker demand in Japan's manga market and softer gross merchandise value across platform and IP distribution businesses.
Kakao (KRX:035720) posted first-quarter net income attributable to shareholders of 171.7 billion won, down 0.1% from 171.9 billion won a year earlier, according to a Thursday filing with the Korea Exchange.The South Korean internet company's sales rose 4.2% year over year to 1.942 trillion won from 1.863 trillion won.Shares of Kakao fell 1% in recent trade.