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Games & Commerce

Kakao steps up strike procedures at affiliates, eyes second mediation at head office

Strike authorisation votes at 5 Kakao group entities all passed, clearing the way for labour action. Four affiliates including Kakao Pay and Kakao Enterprise already have the legal right to strike after mediation was halted. Kakao\'s head office has not yet secured that right after failing to reach a final deal in first mediation and extending the schedule to May 27. A walkout at the head office would be the first in the company’s history.

Games & Commerce

Kakao management, labour agree to extend mediation, postponing risk of first head office strike

Kakao management and its labour union agreed to extend mediation at the Gyeonggi Provincial Labor Relations Commission after wage talks broke down, temporarily delaying the possibility of the company’s first head office strike. A second mediation session is set for May 27. The dispute centres on the wage increase rate and bonus compensation structure. Four affiliates have secured the right to take industrial action after mediation procedures were suspended.

Finance

KakaoBank to provide 125 billion won in financial support for small merchants in Seoul

KakaoBank will provide financial support worth 125 billion won for small merchants in Seoul in cooperation with the Seoul Credit Guarantee Foundation. KakaoBank will make a 10 billion won special contribution to the foundation and supply 125 billion won in guaranteed loans based on it. The support will be split between Seoul’s “Rapid Financial Support” programme and a district-linked local economy support programme covering all 25 districts.