shina

South Korean internet giant Kakao — in the middle of multiple investigations over antitrust and securities violations — has appointed a new CEO as it tries to turn the ship around. Shina Chung, who had been running the company’s venture arm, is moving to the top role at the company. Separately, just last month, South Korean President Yoon Suk Yeol called for a review of the monopolistic practices of Kakao’s taxi-hailing unit, Kakao Mobility. Korea’s antitrust regulator had already fined Kakao Mobility about $20.3 million for unfair service in February. Kakao Mobility, which has about 74% of the ride-hailing market in the country as of September, separately is trying to lower the temperature around this controvery.