[Featured Stock] Payjeungwon Achieves First Profit Turnaround... KakaoPay Up Over 11%

Shares of Kakao Pay, which succeeded in turning a profit in the fourth quarter of last year through Kakao Pay Securities, are on the rise.

As of 9:47 a.m. on the 5th, Kakao Pay was trading at 32,500 KRW, up 3,250 KRW (11.11%) from the previous trading day.

On the same day, Im Hee-yeon, a researcher at Shinhan Investment Corp., maintained a buy rating and a target price of 34,000 KRW for Kakao Pay.

In the fourth quarter of last year, Kakao Pay Securities recorded an operating profit of 700 million KRW, marking its first quarterly operating profit. Researcher Im stated, "The turnaround to profitability was achieved faster than expected. Thanks to an increase in overseas stock trading volume, the stock trading amount reached a record high of 17.3 trillion KRW," adding, "Stock balances increased to 2.3 trillion KRW, and deposited assets rose to 3.9 trillion KRW."

During the same period, Kakao Pay’s consolidated results showed an operating loss of 33 billion KRW and a net profit of 3.9 billion KRW. Researcher Im said, "A loss of 31.2 billion KRW related to the TMEF incident was reclassified as an operating loss for the quarter. Given the current trend, even with a conservative approach, we expect a return to operating profit from the second quarter."