Kakao faces growing regulatory risks as political scrutiny rises

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Reuters UK

By Joyce Lee SEOUL (Reuters) – South Korean tech giant Kakao faces growing regulatory heat after the country’s president urged a review into its taxi app amid complaints about monopolistic practices, which comes on the heels of a probe into suspected stock market manipulation. Shares in Kakao Corp, which operates Korea’s dominant chat app KakaoTalk and has expanded into digital banking, taxi services and entertainment, have dropped 27% over the past three months, undershooting a 10.5% fall in the broader market and reflecting growing regulatory concerns. Analysts warn those troubles could wors…

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