Kakao Pay to run Pangyo office with renewable energy

It signed a green premium purchase agreement with KEPCO to procure renewable energy for electricity usage starting in H2

Kakao Pay, a unit of South Korean tech conglomerate Kakao (Courtesy of Kakao Pay)
Kakao Pay, a unit of South Korean tech conglomerate Kakao (Courtesy of Kakao Pay)
Mi-Hyun Jo 1
2024-08-26 17:19:15 mwise@hankyung.com
Energy

South Korea’s Kakao Pay Corp. said on Monday that it signed a green premium purchase agreement with Korea Electric Power Corp. (KEPCO), the South Korean state-run utility company, and has begun procuring renewable energy for its electricity usage.

The Green Premium is a method of renewable energy procurement where KEPCO produces electricity entirely from environmentally friendly renewable energy sources, and this power is purchased separately from regular electricity bills.

Through this purchase agreement, Kakao Pay will procure 100% of the electricity consumed in its business operations at the Pangyo office in the second half of this year from renewable energy. This also accounts for 14% of the total electricity usage of the company, including data centers, from last year.

Previously, Kakao Pay committed to participating in its parent company Kakao Corp.'s Active Green Initiative and, in its 2023 ESG report, established the RE100 goal of transitioning 100% of its electricity usage to renewable energy by 2040, along with a roadmap to achieve this.

Write to Mi-Hyun Jo at mwise@hankyung.com
#Kakao Pay #Green Premium purchase agreement #KEPCO #renewable energy procurement #renewable energy

Korean Kakao Pay’s acquisition of US' Siebert collapses

Korean Kakao Pay’s acquisition of US' Siebert collapses

Kakao Pay’s headquarters in Pangyo, so-called Silicon Valley in South Korea (File photo by Moon-Chan Hur) South Korean Kakao Pay Corp.'s takeover deal of US-based Siebert Financial Corp. has failed amid the growing legal risks surrounding top executives of the leading mobile platform in t

Kakao Pay’s tie-up with Alipay spurs growth in China

Kakao Pay’s tie-up with Alipay spurs growth in China

Kakao Pay CEO Shin Won-keun speaks at a press conference in Beijing on Sept. 19, 2023 (Courtesy of Kakao Pay) BEIJING – Kakao Pay Corp., the mobile payment service unit of South Korean tech giant Kakao Corp., is rapidly growing in China’s fintech sector as it started its digital pay

KakaoPay launches discount promotion in Japan

KakaoPay launches discount promotion in Japan

South Korea’s Kakao Pay Corp. announced on Friday that it has prepared a large-scale discount promotion in collaboration with PayPay, the top QR payment operator in Japan, to coincide with the holiday season.This promotion will take place primarily in Fukuoka, one of the most popular tou

Kakao Pay launches ATM service in Japan, Vietnam, Laos

Kakao Pay launches ATM service in Japan, Vietnam, Laos

South Korea’s Kakao Pay Corp. on Wednesday said it started an overseas withdrawal service at automatic teller machines (ATM) in partnership with Global Loyalty Network (GLN), an overseas payment platform under Hana Bank, to ease getting cash overseas.Available in Japan, Vietnam and Laos,

KakaoPay chief tapped as co-CEO in Kakao management shakeup

KakaoPay chief tapped as co-CEO in Kakao management shakeup

Young-joon Ryu and Min-soo Yeo, slated as Kakao Corp. co-CEOs come March Korea’s largest mobile messenger provider Kakao Corp. is slated for a leadership shakeup, in a bid to strengthen itself in the areas of social responsibility and innovation.On Nov. 25, the internet giant tapp
(* comment hide *}