Kakao shares fall sharply after system crash, social market dominance
Kakao rations fall sharply after system crash, social market dominance
Reuters on October 17 reported that shares of the company "Kakao", the owner of the free chat application. which is popular in South Korean society Open the trading market to fall sharply on the same day. After the app crashes widely. This has resulted in a violent reaction from the user community, which has led to increased scrutiny of the app provider's market dominance.
The cause of the crash was a fire at a Gagao data center in the south of Seoul on October 15, although Gagao's systems tied to services such as GagaTalk or Gagao Pay. Almost all of them were restored on October 17, but the disruption of the app has affected the lives of South Koreans. It raises the question of whether society is overly dependent on such apps or not.
President Yun Seok Yeol of South Korea pledged on the same day to pursue solutions to the system, and that if the market was distorted by monopoly or with severe low-income competition To the point that the service is like a national infrastructure. The government should have important measures to protect the interests of the people. It also said South Korea's anti-monopoly watchdog will investigate the matter.