Kakao founder Kim Beom-soo. [Kakao Corp.] 사진 확대 Kakao founder Kim Beom-soo. [Kakao Corp.]

Kakao Corp. has flatly denied any plan to turn Kakao X into a holding company. The company explained that there would be no reason for a holding company to exist because the business areas would also be separated through the corporate split. Kakao founder Kim Beom-soo will also retain his status as a major shareholder.

At a corporate split briefing on the 21st, Kim Do-young, the nominee for chief executive of Kakao X, addressed speculation that Kakao X would become a holding company. He said, “There is absolutely no plan to convert Kakao X into a holding company.” He added, “Once the spin-off is completed, the two companies will have different business purposes and will be managed independently, but the organic cooperation between the KakaoTalk platform and its subsidiaries will continue as before.”

Kakao Corp. also plans to dissolve the CA Council. Previously, Kakao Corp. simultaneously led the KakaoTalk-centered business and managed its subsidiaries, so the joint organization was necessary. But as the functions are separated, the need for a shared body has disappeared.

Founder Kim Beom-soo will not take a direct role in day-to-day management, but as a major shareholder of Kakao AI and Kakao X, he is expected to support growth and innovation even after the corporate split. Because the separation will take the form of a spin-off that allocates shares in the new company to existing shareholders, the ownership ratio will remain unchanged.

This article has been translated by GripLabs Mingo AI.

#

Corporate split

spin-off

KakaoTalk

holding company

business areas