Kakao Touts Storytelling Skills at APOS as Korean Legislators Seek Crimp on Tech Market Dominance
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variety.comPatrick Frater Asia Bureau ChiefKorean entertainment-tech giant Kakao took to the stage of media conference APOS on Wednesday to tout the firm’s growing story-telling skills and particular strength in webtoons.
The same day, the company’s shares plunged by 8%, as politicians from the ruling party called for regulations that would halt the dominance of platform economy leaders Kakao Inc.
and Naver Corp.Kakao, which runs South Korea’s biggest messaging and social media services, saw its shares down by more than 11%, before recovering to an 8% decrease.
Naver, which operates search and the Line messaging app, fell by 8% before closing down nearly 6%.Naver has a growing entertainment portfolio that was recently boosted by the acquisition of.
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