On the 17th, Kakao Pay shares rose in early trading. Analysts said buying gathered on expectations that Kakao Pay's profitability would strengthen on increased domestic stock transaction value.
As of 10:13 a.m. that day, Kakao Pay was trading at 57,400 won, up 1,800 won (3.24%) from the previous session.
Jeong Ho-yoon, a researcher at Korea Investment & Securities Co., said Kakao Pay's first-quarter revenue on a consolidation basis would be 275.3 billion won, up 29.9% from a year earlier, with operating profit rising 486% to 25.9 billion won.
The key drivers of this growth are solid results in stocks and insurance. Jeong said the Kakao Pay financial business division's first-quarter revenue would reach 120.9 billion won, up 50% from a year earlier, continuing its high-growth trend.
Jeong Ho-yoon of Korea Investment & Securities Co. said, "With the boom in the domestic stock market, Kakao Pay securities is still growing well," and noted, "Insurance is also expanding its product lineup and increasing sales."
Jeong added, "Kakao Pay securities' domestic stock transaction value rose sharply in the first quarter, and insurance products such as travel insurance are also selling well," and said, "While the market's attention is focused on elements like stablecoins, the core business's top-line growth and profitability deserve more attention."