Market
Naver, Kakao shares plunge on moves to regulate IT platforms
Sept. 9, 2021
With politicians and regulators joining forces to strengthen monitoring of fast-growing IT platforms, shares of South Korea’s two tech giants plummeted Thursday, losing a combined 19 trillion won ($16.2 billion) in just two days. Naver, the country’s third-largest company by market capitalization, declined 2.56 percent, or 10,500 won, to close at 399,000 won Thursday, adding to a 7.87 percent fall recorded the previous day. Kakao plummeted 7.22 percent to 128,500 won after losing 1