사진 확대
Kakao will divide the company into ‘Kakao AI’ and ‘Kakao X’. It is a stepping stone to reorganize its corporate governance structure to suit the era of artificial intelligence (AI).
Kakao AI, a newly established corporation, will be in charge of the AI platform business centered on Kakao Talk, while Kakao X, a surviving corporation, will be in charge of future investments in technology (IT-based finance), content, and mobility.
Kakao held a board meeting on the 21st and decided on a plan to split people with such information.
The division ratio was set at “Kakao AI 0.36 vs. Kakao X 0.64” based on net asset book value. Shareholders will receive shares of both companies based on the split ratio.
CEO of Kakao AI will be Jung Shin-ah, CEO of Kakao, and CEO of Kakao X will be Kim Do-young, CEO of Kakao Investment.
The decision to split people was based on the judgment that inefficiency increased under the existing governance structure. As the group has grown, similar businesses have continued to be mixed in several corporations. Due to these structural factors, complaints have been raised that corporate value is not being properly evaluated in the stock market.
According to the company, domestic and foreign securities companies combined the individual values of Kakao and other major affiliates (partial valuation and SOTP) to 34.2 trillion won, and Kakao’s average market capitalization for the past three months is only 16.8 trillion won. It is more than 50% off its potential value, which means it is not properly recognized in the stock market.
Kim Bum-soo, founder of Kakao (photo), is said to have led the restructuring of the governance structure.
“Cacao in the mobile era has been the first to jump in and create innovation and change the daily life of users,” said founder Kim. “We will redesign the growth structure with two engines and help the results go to all shareholders, users, and crew (employees).”
Meanwhile, Kakao is scheduled to complete the division on January 1, 2027, after an extraordinary shareholders’ meeting on December 17. Kakao AI re-listing and Kakao X re-listing will be promoted on the 27th of the same month.
[Reporter Kang Young-woon / Reporter Ko Min-seo / Reporter Jung Ho-joon]