[Asia Economy Reporter Kang Nahum] Kakao has decided to raise the prices of KakaoTalk emoticons for iPhone users. This is a response to Apple's increase in in-app purchase prices in South Korea and some other countries.
According to a notice within the KakaoTalk app on the 2nd, Kakao will adjust emoticon prices starting from the 6th.
Accordingly, 100 Choco will increase from the current 1,200 KRW to 1,500 KRW, 200 Choco from 2,500 KRW to 3,000 KRW, and 300 Choco from 3,900 KRW to 4,400 KRW. This is a price hike of up to 25%. Choco is the digital currency required for purchasing emoticons.
The price increase will be applied sequentially on the 6th, Korea Standard Time, depending on Apple's processing time.
Kakao explained that it adjusted emoticon prices following Apple's announcement on the 19th of last month regarding the increase in in-app product prices in some countries.
Earlier, on the 19th (local time), Apple announced that it would raise in-app purchase prices in South Korea and some other countries. Accordingly, the in-app purchase price in South Korea will increase by 25%, from 1,200 KRW to 1,500 KRW per $0.99, starting from the 5th.
Apple has not disclosed the reasons for this price increase, but industry experts attribute it to the recent strength of the US dollar. In fact, Apple has been adjusting App Store prices by country based on exchange rates, taxes, and other factors.
Meanwhile, major domestic game companies such as Nexon and NCSoft have decided to maintain their existing in-app purchase prices except for some products.
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