By Kwanwoo Jun

South Korean internet-group shares rallied Thursday on hopes that President-elect Yoon Suk-yeol, a pro-business opposition conservative, may adopt a less restrictive policy on the industry.

Shares in internet giants Naver Corp. and Kakao Corp. jumped as much as 11% to 333,000 won and 7.8% to KRW99,330, respectively, in early trade, snapping their three-session losing streak. The Kospi stock benchmark was 2.0% higher.

The March 9 election of Mr. Yoon, who had supported an easing of state crackdowns and more self-regulation for the platform industry during his election campaign, helped boost those internet stocks, said a Kyobo Securities analyst.

Local internet business conglomerates have been pressured by President Moon Jae-in government's campaign to counter their alleged abuse of their online-platform dominance.

The Moon administration is seeking to enact a new and tougher anti-trust bill on large platform companies to level the playing field.

Mr. Yoon is scheduled to replace President Moon when his term ends in May.


Write to Kwanwoo Jun at kwanwoo.jun@wsj.com


(END) Dow Jones Newswires

03-09-22 2220ET