[Featured Stock] Kakao Group Shares Rebound Early in Trading After Previous Day's Drop Amid 'Blackout Incident'

[Image source=Yonhap News]

[Asia Economy Reporter Myung-hwan Lee] Kakao affiliates are showing a slight upward trend immediately after the market opened on the 18th, recovering from the sharp decline caused by the outage incident the previous day.

As of 9:32 a.m. on the 18th, Kakao Pay is trading at 36,900 KRW, up 6.65% (2,300 KRW) from the previous trading day. At the same time, Kakao Bank is trading at 17,250 KRW, up 3.92% (650 KRW), and Kakao Games is trading at 38,900 KRW, up 4.01% (1,500 KRW). Kakao itself is also up 2.07% (1,000 KRW), reaching 49,350 KRW.

Kakao experienced a service outage affecting most of its services, including KakaoTalk, due to a fire at the SK㈜ C&C Pangyo data center on the 15th. The service disruption, which lasted about a full day, began to be restored around the 16th.

According to Kakao, KakaoTalk currently supports message sending as well as receiving and sending image and video files. KakaoTalk wallet services such as Kakao Certification, electronic certificates, digital cards, Talk business cards, and My Subscription are also functioning normally. However, as of the morning of the 18th, services like Daum and Kakao mail and KakaoTalk Talk Storage are still not operating properly.

On the first trading day after the service outage, the previous day, Kakao closed at 48,350 KRW, down 5.93% in one day. Not only Kakao but also its affiliates including Kakao Games, Kakao Bank, and Kakao Pay saw their stock prices plunge simultaneously, resulting in a market capitalization loss of 2 trillion KRW in one day.

This content was produced with the assistance of AI translation services.