Fintech company Dunamu that runs the specialized social trading app KakaoStock (CEO: Chi Hyung Song) announced on March 3rd that it is launching a specialized stock reporter bot: ‘Newsbot’.
According to Dunamu, Newsbot detects any changes in the stock market and releases the news automatically, which allows it to publish an article in 0.1 ~ 0.5 second. Newsbot uses Dunamu’s proprietary algorithm that grasps the present stock market situation in real time and adds KakaoStock’s content to the news.
Newsbot provides news of various genres including market information such as the rate of increase/decrease for KOSPI (The Korea Composite Stock Price Index) and KOSDAQ (Korea Securities Dealers Automated Quotation), purchases and sales from institutions and foreigners, the rate of increase for each section, analysis of fluctuations, and KakaoStock’s original content themed news. Newsbot’s articles can be found on KakaoStock’s mobile app and webpage.
CEO Song notes that the goal of Newsbot is to help “private investors who are busy with their full time jobs and have difficulty collecting information in real time.” Newsbot can “help KakaoStock users receive the fastest and most accurate stock related information.”
KakaoStock is the first social trading service that was launched in February 2014. It provides stock information and allows users to conduct transactions through the application. KakaoStock established partnerships with more than top 10 Korean trading firms including Mirae Asset, Kiwoom, and Korea Investment Co., Ltd. KakaoStock allows its users conduct transactions without paying additional transaction fees besides the existing trading firm transaction fee. KakaoStock hit 1.6 million cumulative downloads and has an aggregate turnover of 15 trillion won.