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ON POINT: Journalist's take on Kakao Pay market debut, IPO craze in S. Korea Updated: 2021-11-03 05:05:54 KST

Now it’s time for On Point, where we speak to experts to delve deeper into the biggest news stories in the spotlight right now.
The mobile payment service arm of Kakao Corporation, Kakao Pay, makes its debut on South Korea’s benchmark index, the KOSPI, in under an hour from now.
Kakao is a household name in South Korea so naturally all eyes are on Kakao Pay’s upcoming market performance.
It doesn’t end there either.

The corporation has hinted that Kakao Mobility and other Kakao affliates are all set to be listed, perhaps by the end of the year.
For a closer look and the IPO craze in Korea, we connect to Steven Borowiec, a journalist based in Seoul.
Steven, competition to get into this particular IPO was intense, Kakao Pay set the IPO price at roughly 76 U.S. dollars a share. Are the majority of market analysts expecting Kakao Pay to bolt out the gates when trading opens and do they forecast upward momentum for a sustained period?

Retail investors, especially those with lighter pockets, liked the way Kakao Pay organized its IPO. Can you tell our international viewers why a lot of retailer investors were happy with the way it was structured.

Almost every IPO gets retail investors’ juices flowing in South Korea, despite some failing to live up to expectations. How do you explain the fervor among investors - both young and old - for IPOs in South Korea?

Finally, we touched upon how Kakao Corporation likely has a number of other IPOs up its sleeve in the coming months. Tell us more about those and any other upcoming IPOs that are likely to cause a frenzy of excitement.

Thanks, Steven. Great to speak with you again. That was Steven Borowiec on the market debut of Kakao Pay and the IPO mania gripping South Korea.
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