Naver and Kakao, Korea's leading IT platform companies, each recorded internal transactions worth over one trillion won ($700 million) last year. While the volume of the internal transactions doubled at Naver during the past four years, Kakao logged a seven-fold increase in such settlements during the same period. According to documents submitted by the Fair Trade Commission (FTC) to ruling party Rep. Yun Chang-hyun, the volume of Naver's internal transactions stood at 1.15 trillion won last year, up 2.3 times from 2017. Kakao's internal transactions stood at 1.46 trillion won, which is a whopping 7.3-fold jump from 2017. The key reason behind the surge in internal transactions at the IT conglomerates was a rapid increase in the number of their subsidiaries. The number of Naver's subsidiaries increased to 54 in 2021 from 45 in 2018. Kakao saw an even bigger increase in the number of subsidiaries, almost doubling from 72 in 2018 to 136 last year.
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Yun Chang Hyun , ,Fair Trade Commission ,Naver ,Kakao ,
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