Market Chatter: South Korea's FTC Slaps KRW72.4 Billion Fine on Kakao Mobility for Anti-Competitive Practices

MT Newswires Live

Oct 03, 2024

South Korea's Fair Trade Commission (FTC) fined Kakao (KRX:035720) subsidiary Kakao Mobility 72.4 billion won over alleged monopolistic practices, Yonhap News reported Wednesday.

The company allegedly pressured smaller competitors such as Uber, Banban Taxi, Macaron Taxi, and Tada to sign partnership deals, threatening to block their access to its Kakao T taxi-hailing service if they refused, the report said.

The antitrust regulator forwarded the case to the prosecution for further investigation, the news agency reported.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)</p><p>Price (KRW): â©34450.00, Change: â©+400, Percent Change: +1.17%</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"FTC.AU","symbol_name":"FinTech Chain Limited","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2472465590","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2472465590","pubTimestamp":1727930540,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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