KakaoPay Corp - to buy shares of KakaoPay Securities Corp.

KakaoPay Corp., a subsidiary of Kakao Corp. and a leading fintech company in South Korea, has been actively expanding its presence in the financial services sector. In 2020, KakaoPay acquired Baro Investment & Securities, which was subsequently rebranded as KakaoPay Securities. This move marked KakaoPay’s entry into the brokerage industry, leveraging its mobile-first platform to offer investment services to a broader audience.

KakaoPay Securities operates as a licensed brokerage firm, enabling Korean citizens to open accounts through the KakaoTalk application, while foreign residents may open accounts via offline branches. The company has since been working to enhance its digital infrastructure and expand its range of financial products.

In 2023, KakaoPay also entered into a significant equity investment in Siebert Financial Corp., a U.S.-based brokerage firm, acquiring 19.9% of its shares in what was initially intended to be a two-tranche transaction. However, the second tranche of the agreement was later terminated in December 2023 under a settlement agreement, with KakaoPay receiving a $5 million fee in exchange for releasing certain rights and restrictions. Despite the termination, the partnership has continued to evolve, with both firms exploring collaborative opportunities in cross-border brokerage, AI-driven investor tools, and next-generation financial infrastructure.

In August 2025, Siebert’s CEO John J. Gebbia visited South Korea to further solidify the partnership with KakaoPay and KakaoPay Securities, emphasizing integrated services combining mobile innovation with U.S. financial market expertise. The collaboration includes initiatives such as international trading access, AI-assisted research, and digital asset integration, with early implementations already underway for eligible clients.

As KakaoPay continues to strengthen its financial services ecosystem, its ownership of KakaoPay Securities remains a key component of its strategy to provide accessible and innovative investment solutions to both domestic and international clients.