The author is an analyst for Shinhan Securities. He can be reached at heeyeon.lim@shinhan.com -- Ed.2Q operating loss of KRW12.6bn in line with expectationsKakaopay posted decent 2Q23 preliminary results with consolidated operating loss of KRW12.6bn (continued loss QoQ) on sales of KRW148.9bn (+5.2%
The author is an analyst of KB Securities. She can be reached at leesunhwa@kbfg.com. -- Ed. Raise TP by 14.3% from KRW70,000 to KRW80,000; Maintain BUY We raise our TP 14.3% from KRW70,000 to KRW80,000 and maintain BUY for Kakao. We have reflected slight downward adjustments to 2023E revenue growth
Apple Pay is set to debut in Korea early next year, eight years after its launch in the United States. Hyundai Card has signed an exclusive contract with Apple Inc. to introduce the mobile payment service in early 2023.As the introduction of Apple Pay to Korea has begun its countdown, Samsung Pay an
The authors are analysts of Shinhan Investment Corp. They can be reached at heeyeon.lim@shinhan.com and tyc@shinhan.com, respectively. – Ed. Kakaopay eyes acquisition of Loca Mobility according to disclosureAccording to an official response to rumors and media reports disclosed on December 2, Kakaop
Alipay Singapore Holdings, the second-largest shareholder in KakaoPay, sold five million KakaoPay shares through a block deal on June 7. The amount is 9.8 percent of Alipay’s stake in KakaoPay and 3.77 percent of the total KakaoPay shares.Alipay procured 470 billion won or so by disposing of the sha
KakaoPay CEO Ryu Young-joon is facing severe criticism after his stock option exercise. Although he apologized, more and more people are opposed to him becoming a co-CEO of Kakao, which is scheduled for March, and calling for his resignation.On Dec. 10, the eight KakaoPay executives including Ryu so
The author is an analyst of KB Securities. He can be reached at cygun101@kbfg.com. -- Ed. Maintain Buy and TP of KRW153,000 We maintain BUY on Kiwoom Securities and our TP of KRW153,000, given the following:(1) Valuations are compelling thanks to robust profitability despite investor concerns.(2) Ea
The author is an analyst of NH Investment & Securities. He can be reached at junsup@nhqv.com. -- Ed. Despite some risk factors, such as declining stock trading value and intensified competition, we believe that Kiwoom Securities shares remain excessively undervalued.Lower TP to W160,000We lower our
The author is an analyst of NH Investment & Securities. He can be reached at junsup@nhqv.com. -- Ed. The macroeconomic environment for the securities sector is likely to be somewhat unfavorable next year, given the slowdown in stock trading value and interest rate hikes. However, we believe that cur
The author is an analyst of NH Investment & Securities. He can be reached at junsup@nhqv.com. -- Ed. The domestic securities industry is to face a serious challenge in 2022. In addition to high base effect (record-high stock transaction value booked in 2021), rising interest rates should result in a
South Korean unicorns such as Viva Republica, Zigbang, Yanolja and Musinsa are expanding their business by acquiring startups and subsidiaries of larger companies.For example, Viva Republica, which runs Toss, recently acquired Tada in order to expand its business beyond the financial industry and do
Multiple digital insurance companies are scheduled to debut in the second half of this year. The domestic insurance market is expected to be reshaped with the rapid development of information and communications technology.KakaoPay’s digital non-life insurance company is scheduled to enter the market
An increasing number of South Korean companies are aiming to repeat the success of Coupang after it made a successful debut on the New York Stock Exchange in March this year.SoftBank chairman Masayoshi Son is increasing his investment in South Korean startups after his successful investment in Coupa
The author is an analyst of NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com. -- Ed. - Internet and game company shares, which led the 2020 stock market on the theme of ‘contactless’, have now entered a period of price correction. While the number of Covid-19 cases has yet to mea
The author is an analyst of KB Securities. He can be reached at drlee@kbfg.com. -- Ed. Maintain BUY; Revise up TP by 4.7% to KRW135,000 We maintain BUY on Kakao as we lift our TP by 4.7% to KRW135,000. While our revenue and OP forecasts have been left largely unchanged, we have revised up 2021E and
The Chinese government is initiating large-scale regulations on its fast-growing digital economy sector. Under the circumstances, concerns are rising over the possibility that South Korean financial companies may be adversely affected by the regulations. This is because the regulations may lead to m
The author is an analyst of KB Securities. He can be reached at drlee@kbfg.com. -- Ed. Maintain BUY and raise TP 20.0% to KRW540,000 We maintain BUY on Kakao as we lift our TP 20.0% to KRW540,000. We have revised up our 2021E and 2022E NP (attributable to controlling interests) estimates by 8.0% and
The author is an analyst of NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com. -- Ed. Kakao is evidencing the power of operating leverage effects generated when platform companies embark on full-fledged monetization. The firm is primed to display eye-catching earnings growth for y
The author is an analyst of Shinhan Investment Corp. He can be reached at mj1224@shinhan.com. -- Ed.Impressive growth of Kakao CommerceKakao Commerce shows an impressive growth. Talk Gift, which started off as an in-app e-commerce marketplace where users can purchase gift coupons, has added a wide r
The market capitalization of Kakao topped that of Hyundai Motor Co. and ranked 10th in the KOSPI market on May 22.That day, Kakao gained 4 percent to close at 247,000 won per share and its market cap increased to 21.5 trillion won. On the other hand, Hyundai Motor fell 2.78 percent to close at 94,50