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IT giant Kakao to provide securities services to 30 million KakaoPay users Updated: 2020-01-23 13:46:23 KST

The South Korean IT giant Kakao, provider of the chat app KakaoTalk, is one step closer to branching out into brokerage and asset management services.
Regulators at the Financial Services Commission said today that they found no problem with the company's plans to become a major shareholder in the local brokerage firm Baro Investment and Securities.
The agency will approve the company's application in a meeting set for February 5th.
Ownership in the brokerage will enable Kakao's mobile payment subsidiary KakaoPay to provide asset investment services to its 30 million users.
KOGL : Korea Open Government License
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