Kakao "Financial Impact of Pangyo Fire is Limited... Discussing Compensation with SK C&C"

[Image source=Yonhap News]

[Asia Economy Reporter Ji Yeon-jin] Kakao announced on the 17th that it "judges the financial impact to be limited" regarding the fire at the Pangyo data center.

Kakao stated, "On October 15, 2022, a fire occurred at the SK C&C Pangyo data center where Kakao is housed, causing service disruptions for Kakao and its major subsidiaries," adding, "In response, Kakao and the Kakao community plan to identify the cause, carry out phased recovery, establish and implement measures to prevent recurrence, and prepare compensation plans for stakeholders."

They continued, "We judge that the financial impact on the sales and other financial aspects of Kakao and its major subsidiaries will be limited. After prioritizing the normalization of services, we plan to discuss compensation for losses with SK C&C regarding damages incurred by Kakao and its major subsidiaries."