Kakao IX Discusses Transfer of 'Character Business' with Kakao Commerce

[Asia Economy Reporter Buaeri] Kakao is in discussions to entrust its character business symbolized by 'Ryan' and others to its e-commerce specialized subsidiary, Kakao Commerce.

According to Kakao IX on the 22nd, the board of directors will convene early next month to discuss a business transfer agenda of this nature.

This involves transferring the Kakao Friends character and distribution segments currently managed by Kakao IX to Kakao Commerce. Initially, the two companies considered a merger, but the plan is now leaning towards adjusting the business divisions.

Kakao Commerce is a Kakao subsidiary responsible for shopping sectors such as 'KakaoTalk Gift' and 'KakaoTalk Store.' Last year, it recorded sales of 296.1 billion KRW and an operating profit of 75.7 billion KRW. Kakao IX, which handled the character business, posted sales of 145 billion KRW and an operating profit of 13.2 billion KRW last year.

Upon transferring the business, Kakao IX is expected to focus on real estate-related operations. In 2018, Kakao IX merged with 'JOH,' a design and branding specialist company previously operated by co-CEO Jo Sooyoung. JOH was responsible for building designs such as Gwanghwamun D Tower, Yeouido Glad Hotel, and Incheon Nest Hotel.

Kakao IX is also promoting the 'Forest One Project,' which aims to establish a shared space for Kakao affiliates with the nature of a training center.

Regarding this, a Kakao IX official stated, "It is true that discussions are ongoing, but nothing has been finalized."

This content was produced with the assistance of AI translation services.