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Kakao shares plunged more than 9% on Monday to their lowest since May 2020, while shares in Kakao affiliates KakaoPay (377300.KS) and KakaoBank (323410.KS) also plunged more than 8% in morning trade. Police and the National Forensic Service are conducting a second investigation on Monday at the data centre, which is operated by SK C&C (034730.KS). After an initial probe on Sunday, police said electrical issues around battery racks in third basement floor of the data centre may have caused the fire. It said in a regulatory filing on Monday that after it normalises services, it will discuss compensation with data centre operator SK C&C for losses sustained by Kakao and its key units. A Kakao spokesperson declined to provide the total number of servers it uses, citing security concerns.
Kakao shares slump after widespread service outage
  + stars: | 2022-10-17 | by ( Joyce Lee | ) www.reuters.com   time to read: +2 min
SEOUL, Oct 17 (Reuters) - Shares in South Korea's Kakao Corp (035720.KS) plunged more than 9% on Monday after a fire at a data centre south of Seoul damaged servers on the weekend, causing an extensive service outage in the country's main chat app. President Yoon Suk-yeol said on Monday that Kakao's services are "like a fundamental national telecommunications network as far as the public is concerned," and follow-up measures over the service outage will be pursued. Kakao shares fell to its lowest since May 2020, while shares in Kakao affiliates KakaoPay (377300.KS) and KakaoBank (323410.KS) also plunged more than 8% in morning trade. A Kakao spokesperson told Reuters on Monday services such as messaging have been restored, but miscellaneous services are still being restored. Kakao said on Monday the financial effects of a widespread service outage were expected to be limited on Kakao and its key units.
SEOUL, Oct 14 (Reuters) - South Korean President Yoon Suk-yeol on Friday said his government has been working on building a watertight readiness posture against North Korea's provocations since he took office, following North Korea's missile test and deployment of military aircraft that flew near the border dividing the two countries. Register now for FREE unlimited access to Reuters.com RegisterReporting by Choonsik Yoo, Joori Roh; Editing by Christian SchmolingerOur Standards: The Thomson Reuters Trust Principles.
Joo and Shin voted for a smaller hike in the rate, Rhee said in news conference, but did not elaborate on their views. Twenty-three of 26 analysts expected the bank to go for a half-point hike in a Reuters poll, while the remaining three expected a quarter-point hike. The median forecast in the poll showed the BOK's base rate going to 3.25% by year-end and then peaking at 3.50% in the first quarter of 2023. Almost half of respondents in the Reuters poll expected the base rate to reaching 3.75% in the first quarter of next year. After Wednesday's rate hike, the Korea Federation of Small- to Medium-sized Enterprises expressed "serious concern" about higher rates.
The Bank of Korea (BOK) raised its benchmark policy rate (KROCRT=ECI) by 50 basis points to 3.00% on Wednesday, bringing total rates hike since August last year to 250 basis points. Twenty-three of 26 analysts expected the bank to go for a half-point hike in a Reuters poll, while the remaining three expected a quarter-point hike. "The 50 bp hike today was the BOK's response to the sinking won, it seems." South Korea's three-year treasury bond futures fell after the BOK's statement on the decision. The median forecast in the poll showed the BOK's base rate going to 3.25% by year-end and then peaking at 3.50% in the first quarter of 2023.
SEOUL, Oct 13 (Reuters) - North Korean leader Kim Jong Un oversaw the launch of two long-range strategic cruise missiles, state media reported on Thursday, calling it a test to confirm the reliability and operation of nuclear-capable weapons deployed to military units. It was not immediately clear if the launches were detected by authorities in South Korea, Japan, or the United States, which often monitor and release information on North Korean weapons activities. North Korea first tested a "strategic" cruise missile in September 2021, seen by analysts at the time as possibly the country's first such weapon with a nuclear capability. The cruise missiles are among a number of smaller weapons recently developed by North Korea seen as being able to fly low and maneuver in order to better evade missile defences. North Korea's cruise missiles usually generate less interest than ballistic missiles because they are not explicitly banned under U.N. Nations Security Council resolutions.
SEOUL, Sept 29 (Reuters) - North Korea fired two ballistic missiles off its east coast on Thursday, South Korea's military said, following the firing of two short-range ballistic missiles a day earlier and one on Sunday. "South Korean military detected two short-range ballistic missiles fired from Sunchon, South Pyongan province, toward the east coast between 8:48 p.m. and 8:57 p.m. ... Amid strengthened surveillance and vigilance, our military maintains full preparedness while working closely with the U.S.," the Joint Chiefs of Staff said. The launch came as U.S. Vice President Kamala Harris ended a visit to South Korea, during which she was strongly critical of the reclusive nation. South Korea and its allies are concerned that the North is about to conduct a nuclear test – which would be the seventh since 2006 and its first since 2017. South Korean lawmakers briefed by the country's spy agency said on Wednesday the North has completed preparations for a nuclear test and a possible window for carrying it out could come between Oct. 16 and Nov. 7.
State flags of Russia and North Korea fly in a street near a railway station during the visit of North Korea's leader Kim Jong Un to Vladivostok, Russia April 25, 2019. REUTERS/Yuri MaltsevSEOUL, Sept 22 (Reuters) - North Korea on Thursday said it has never supplied weapons or ammunition to Russia and has no plans to do so, while warning the United States to "keep its mouth shut" and stop circulating rumours aimed at "tarnishing" the country's image. The United States has also accused Iran of supplying drones to Russia for use in its war in Ukraine, which Tehran has denied. Russia also denied the allegations and demanded the United States to provide evidence. read moreRussia and North Korea have recently talked up their ties.
A woman talking on the phone walks past an electronic board of the Korea Composite Stock Price Index (KOSPI) at the Korea Exchange (KRX) in Seoul, South Korea, January 20, 2016 REUTERS/Kim Hong-Ji/File PhotoSEOUL, Sept 20 (Reuters) - South Korea plans to announce financial reforms later this year, including its policy on shareholder returns, that could help reduce the "Korea discount" in stock markets, a senior government official told Reuters on Tuesday. The "Korea discount" refers to a tendency for South Korean companies to have lower valuations than global peers due to factors such as low dividend payouts, the dominance of opaque conglomerates known as chaebols and geopolitical risks involving North Korea. Register now for FREE unlimited access to Reuters.com RegisterSome of the policies the authority is looking into include dividend policy, registration requirements for foreign investors and corporate filings. "(South Korea's) current dividend policy does not meet the global standard and has been mentioned several times by foreign investors ... In South Korea, unlike other major economies, companies confirm dividend amounts weeks after the so-called ex-date - after which buyers of the stock do not receive the payout - creating uncertainty for investors.
Prima femeie aleasă preşedinte al Coreei de Sud, Park Geun-hye a fost condamnată în 2018 la 30 de ani de închisoare pentru corupţie şi abuz de putere. Joi, dosarul a ajuns pentru a doua oară la Curtea Supremă, care a confirmat sentinţa de 20 de ani de închisoare. În vârstă de 68 de ani, Park Geun-hye, care a boicotat de mult timp audierile, spunând că nu este un proces echitabil, a fost absenţă joi. De asemenea, ea a fost condamnată la doi ani de închisoare pentru încălcări ale legislaţiei electorale, pedepsele nefiind contopite. Fostul şef de stat Roh Moo-hyun s-a sinucis în 2009 după ce a fost interogat pentru suspiciuni de corupţie la adresa familiei sale.
Persons: detenţie, instanţă, Choi, Moon, Roh, Lee, Lee Myung - Organizations: Supremă, Park, Samsung Electronics, sil, Partidului Democrat Locations: Coreea de Sud, preşedinte Park, preşedinte, Coreei de Sud, Park, preşedintă, coreene
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