During a National Assembly hearing in October, Kim Sang-jo, chairman of the Fair Trade Commission acknowledged there were problems with Naver's dominance in the search engine market and said his agency was closely monitoring the company. As of June last year, Naver was estimated to have a 74.7 percent share of desktop searches and 72.9 percent of mobile searches, according to Green Consumer Network. The popularity of online payment has been growing in Korea since Kakao introduced the first system, Kakao Pay, in 2014. In the third quarter of last year, about 76.2 billion won ($70.1 million) was transacted daily through these payment systems, according to the Bank of Korea, up 30 percent from the previous quarter. BY LEE HO-JEONG []