Kakao said on Tuesday it received a presidential citation at an event marking the 25th Fair Trade Day held at the Korea Chamber of Commerce and Industry in Jung-gu, Seoul, for cooperation in the mobile gift certificate market and contributions to small merchants' digital transition.

Fair Trade Day was established by private-sector economic groups including the Korea Chamber of Commerce and Industry, the Korea Federation of Medium Business, the Korea Federation of SMEs and the Korea Fair Competition Federation to mark April 1, the date the Fair Trade Act took effect. It began in 2002 and marks its 25th edition this year.

Kakao said it participated in a public-private consultative body on mobile gift certificates and helped develop shared-growth models such as lowering fees and shortening settlement cycles. It proposed a shared-growth plan to introduce a fee cap system of 8 percent so benefits would go to franchise store owners.

It said it participated in revisions to standard terms to raise refunds for expired mobile gift certificates to 95 percent for cash refunds and 100 percent for refunds in points, from 90 percent previously.

Kakao said it is helping small merchants and traditional market vendors with digital transition through Kakao Class and Project Regular Customers, so they can communicate with customers through KakaoTalk channels and develop online sales channels.

Kakao CEO Shina Chung (정신아) said its efforts were recognised, including easing fee burdens for mobile gift certificates, strengthening user protection and supporting small merchants' digital transition. She said Kakao would strengthen and advance compliance management focused on prevention, based on its Compliance Program.

Kakao said it has been working on steps such as setting up a prior work consultation system, revising internal rules including CP regulations and subordinate guidelines, providing compliance training, running campaigns and distributing a compliance handbook since introducing CP in August 2024.