Naver, Kakao excluded from toughened watch list of financial conglomerates Amid businesses’ concerns, regulators say progress for transparency will be made through revised laws | (Yonhap) Financial authorities on Wednesday ruled out Big Tech firms Naver and Kakao as subjects to one of the “three fair economy bills,” designed to rein in dominance of conglomerates and add transparency to corporate governance here. “At the moment, Kakao and Naver do not meet the standards,” Financial Services Commission Vice Chairman Doh Kyu-sang said in a briefing of related ministries for the revised bills. Companies with two or more financial units and total assets of over 5 trillion won ($4.58 billion) are targeted by the bills passed by the National Assembly last week. At the moment, six powerhouses -- Samsung, Hyundai Motor Group, Hanwha, Mirae Asset, Kyobo and DB -- are confirmed as subjects of the revised bills.