Kakao partial strike, sharp KOSPI drop; performance bonus approval under review

The government is considering a plan to have the company’s performance bonuses approved at a shareholder meeting. The fact that the matter is under review was disclosed today. A specific decision date has not yet been announced.

A partial strike is underway at Kakao. The conflict between the company and the union was reported as the apparent cause. The scope of the impact on services was reported to be partial based on publicly available information.

The KOSPI fell sharply on the day. The decline in the stock index affected the market as a whole. Related detailed figures are available in a separate disclosure.

President Lee Jae-myung apologized regarding the matter. The apology was conveyed in a public statement. The direction of further responses is expected to vary depending on the briefing materials.

The Bank of Korea released the results of its analysis of polarization among companies. The central bank also reported on the effects of consumer coupons. The analysis and results are available in official materials.

Overseas issues were also reported today. A warning was issued about overheating in the SpaceX IPO. The escalation of military tensions between the United States and Iran was also reported. South Korea’s real GNI and nominal GDP reached record highs.