Kim Do-young, CEO-designate of Kakao X. Photo courtesy of Kakao Investment
Kakao (035720.KS) plans to develop “Kakao X,” the entity that will remain after its planned corporate split, into a specialized investment company focused on building future value, expanding its investments in innovative companies in the United States and other global markets.
Kim Do-young, who has been named CEO of Kakao X and currently serves as CEO of Kakao Investment and head of the group investment strategy office at Kakao’s CA council, made the remarks at a press briefing on the 21st, saying, “Kakao X carries a growth agenda that is quite exciting.”
Kim said Kakao X would fully reflect Kakao’s track record of “taking on paths never traveled before” and its “Zero to One” success in creating something from nothing. “We will pour in the capabilities we used to grow businesses that did not exist in the market, such as Kakao Mobility, Kakao Bank and Kakao Webtoon, into leading companies and to create user value,” Kim said.
The plan is to extend to the global stage the winning formula that produced strong results through early-stage investments in promising startups such as Dunamu, Karrot and Korea Credit Data.
“While investments so far have been concentrated in the domestic and Asian markets, going forward we will begin investing in earnest in innovative companies in global markets, including the United States,” Kim said. “Through this, we will raise both corporate value and shareholder value.”