[Special Stock] Kakao Group Shares Rise Intraday as Major Services Normalize...

[Image source=Yonhap News]

[Asia Economy Reporter Minji Lee] Kakao Group stocks are showing an upward trend ahead of the normalization of major services.

At 9:55 a.m. on the 19th, Kakao was trading at 51,600 KRW, up 4.45% from the previous trading day. Kakao Bank (4.36%), Kakao Pay (4.35%), and Kakao Games (1.79%) are also on the rise. As the stock price had been falling continuously due to the data center fire, it is analyzed that the stock price rebounded following the previous day, supported by oversold analysis.

On the 15th, Kakao experienced a disruption of major services such as messenger, finance, and music due to a fire at the SK㈜ C&C Pangyo Data Center.

According to Kakao, most services are expected to be normalized within the day. This is because the power supply to SK C&C in Pangyo was completed, achieving a 100% supply rate. Kakao had previously stated that once power restoration is complete, all services can be restored within two hours.

Meanwhile, Kakao plans to hold a press conference regarding the disruption caused by the ‘data center’ fire at Kakao Ajit in Pangyo, Gyeonggi Province, around 11 a.m. on the same day. Namgoong Hoon and Hong Eun-taek, co-CEOs, are expected to apologize for the disruption.

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