Kakao faces growing regulatory risks as political scrutiny rises

South Korean tech giant Kakao is facing regulatory scrutiny after the country's president called for a review of its taxi app due to complaints of monopolistic practices. This comes in addition to an ongoing investigation into suspected stock market manipulation. Kakao's shares have dropped 27% in the past three months, reflecting growing regulatory concerns. Analysts warn that these troubles could worsen for the company, creating distractions as it seeks to expand into artificial intelligence and infrastructure investment.

Nov 3, 2023 - 14:30
Kakao faces growing regulatory risks as political scrutiny rises
South Korean tech giant Kakao is facing regulatory scrutiny after the country's president called for a review of its taxi app due to complaints of monopolistic practices. This comes in addition to an ongoing investigation into suspected stock market manipulation. Kakao's shares have dropped 27% in the past three months, reflecting growing regulatory concerns. Analysts warn that these troubles could worsen for the company, creating distractions as it seeks to expand into artificial intelligence and infrastructure investment.