Daum, Kakao merge to take on giant rivals

Daum, Kakao merge to take on giant rivals
Kakao CEO Lee Seok-Woo (R) and Daum CEO Choi Sae-Hoon (L) hold a press conference on their merger in Seoul on May 26, 2014. South Korea's top messaging service provider, Kakao Corp., and its second largest Internet portal, Daum, announced a merger to create a one of the country's largest IT companies worth around 3 billion USD.

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