Kakao's chief nominee vows to boost stock price back to over $125

2022-02-25 04:08:56

Asian Tech Press (Feb 25) -- The nominee for chief executive of South Korean Internet giant Kakao Corp. (KRX: 035720) vowed Thursday that he will bring the company's stocks back above 150,000 won ($125) within his term.

Namkoong Whon was appointed to head the tech giant in January after the former CEO nominee resigned amid a controversial sell-off of stock options, Yonhap News Agency reported.

He will be officially named CEO at a board meeting scheduled for March.

Kakao stocks in a year.

Kakao's stockd fell to 82,600 won last month since hitting an all-time high of nearly 180,000 won in June last year. And the stock price closed 2.81% lower at 90,000 won Thursday.

online payment Kakao South Korea

Email Subscription

Newsletters and emails are now available! Delivered on time, every weekday, to keep you up to date with North American business news.

Weekly Highlights

                                    Huawei's Automotive BU spin-off is in the countdown, and old employees are expected to receive extra compensation when they transfer to other companies? Insider: I haven't heard of it.
                            2024-12-27

                                    Tesla's (TSLA.O) shares fell as much as 5% in pre-market trading after its fourth-quarter deliveries fell short of expectations.
                            2025-01-02

                                    Tesla (TSLA.O) produced 22,727 other models in the fourth quarter, compared with market forecasts of 22,790.
                            2025-01-02

                                    Yunding Technology: The company currently has no self-owned AI hardware products for sale
                            2025-01-02

                                    Henan Provincial Development and Reform Commission held a symposium on the development of new energy vehicle industry
                            2024-12-27