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Kakao Mobility has partnered with Japan's X Taxi to enhance the country's taxi industry through digital solutions, addressing challenges like an aging workforce. This collaboration aims to modernize operations with technology such as unmanned kiosks and smart dispatch systems, aligning with Japan's "Connected Industries" initiative. The partnership also reflects Korea's strategy to expand its digital influence in the Asia-Pacific region, focusing on comprehensive service solutions rather than traditional product exports.
Kakao is grappling with rumors of selling stakes in its subsidiaries, including Kakao Entertainment, which reported a significant net loss of 259.1 billion won in 2024. While the company denies these reports, it acknowledges ongoing discussions about shareholding changes, raising concerns among employees and stakeholders about financial stability and user data protection.
Tech in Asia and The Business Times are hosting the inaugural Asia Economic Summit, uniting leaders from various sectors to address business challenges in the region. The event features prominent figures like Andre Djokosoetono and Jixun Foo, with early bird tickets available until April 14.Cinch, a Singapore startup, is revolutionizing gadget access through a device-as-a-service model, allowing businesses to rent devices and reduce upfront costs. Meanwhile, Ant International has expanded its payment services in Sri Lanka, partnering with LankaPay to facilitate cross-border mobile payments, enhancing local merchant opportunities and tourist experiences.
Kakao founder Kim Beom-su has resigned as co-chair of the Corporate Alignment Council due to health issues, leaving CEO Chung Shin-a as the sole chair. Despite stepping down, Kim will continue to lead Kakao’s Future Initiative Center amid ongoing legal investigations related to alleged stock price manipulation. The company is also spinning off its web portal unit, Daum, into a standalone entity for more agile decision-making.
South Korea's antitrust regulator has fined Kakao Mobility $10.5 million for unfairly restricting competitors' access to its dominant taxi-hailing platform, Kakao T, which holds a 96% market share. This penalty is a reduction from an earlier $50.3 million fine due to overestimated profit calculations. Additionally, Kakao Mobility faces a $2.47 million fine from the Financial Services Commission for accounting fraud, with the case referred to prosecutors for further investigation.
Kakao Corp. founder Brian Kim has been granted bail set at 300 million won ($218,000) as he faces charges of stock manipulation, marking a significant moment for South Korea's internet sector. A Seoul court announced the decision, though it remains unclear if Kim has left custody.
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kakao mobility partners with x taxi to modernize japan's taxi industry
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