Bloomberg

Internet Giants Take Fire in Korean Echo of China Crackdown

(Bloomberg) — Kakao Corp. and Naver Corp. plummeted, set for the biggest declines in years, after South Korean lawmakers warned the nation’s internet giants against abusing their market dominance in the pursuit of profits.Kakao, which runs Korea’s biggest messaging and social media service, plunged more than 11%, on track for its worst drop since 2012. Naver, which runs the messaging platform Line as well as a host of apps, slid more than 8%, poised for its biggest loss in six years. Kakao shou

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