Kakao Bank, Kakao Pay shares tumble as fire disrupts services: report

All services under Kakao were severely affected by the data center fire.

The shares of Kakao Corp and its affiliates fell after a fire affected services nationwide.

Kakao Bank, the internet-only lending arm of the South Korean messaging company, saw its share prices drop 7.43% to KRW16,200 on the Korean Composite Stock Price Index or KOSPI, the country’s main bourse, according to a report by Yonhap.

Shares of Kakao Pay, which offers mobile payment and digital wallet services, were also hit with a 9.14% decline to KRW32,800.

Shares of Kakao had dropped 8.17 percent to 47,200 won (US$32) as of 9:30 a.m. on the KOSPI, the country's main bourse.

The company was hit with a fire in one of its data centers near Seoul, which reportedly caused one of the country’s worst server outages that affected not just the banking and payment services, but also messaging and transportation.

Follow the link for more news on

Kakao Bank

Also Read

JCB cards now accepted by GHL merchants in Malaysia, Thailand, Philippines

OCBC launches MyOwn bank account for children and teenagers

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit