Kakao Corp. posted a market capitalization of 64.1 trillion won to take the third spot among South Korea's most valuable company following chip giants Samsung Electronics Co. and SK hynix Inc.
The upward march was due to robust earnings from its e-commerce, content, and advertising business, and optimism for this year's initial public offerings of its financial subsidiaries.
Naver Corp. slightly trails Kakao with a 63.6 trillion won market value as of Tuesday.
Kakao's shares increase 1.4 percent to reach a record high of 144,500 won on Tuesday, extending its winning streak to the seventh day.
Kakao's shares surged by nearly 7 percent this week following reports of its merger with its e-commerce subsidiary, Kakao Commerce.
The merger is aimed at better competing with its local e-commerce rivals, like Naver and Coupang.
Kakao rapidly expanded its presence in South Korea's tech sector with a wide range of platform services that now include messenger, e-commerce, mobility, content, and finance.
It enjoyed a boom during the pandemic.


Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering
Silver Prices Plunge in Asian Trade as Dollar Strength Triggers Fresh Precious Metals Sell-Off
Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran
Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal
Instagram Outage Disrupts Thousands of U.S. Users
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch
Dow Hits 50,000 as U.S. Stocks Stage Strong Rebound Amid AI Volatility
Thailand Inflation Remains Negative for 10th Straight Month in January
Ford and Geely Explore Strategic Manufacturing Partnership in Europe
Gold and Silver Prices Rebound After Volatile Week Triggered by Fed Nomination
South Korea’s Weak Won Struggles as Retail Investors Pour Money Into U.S. Stocks
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 



