Kakao Union Holds Press Conference on the 11th Opposing the Sale of Kakao Mobility

The Private Equity Firm MBK Partners Mentioned as Equity Acquisition Partner

[Asia Economy Reporter Kang Nahum] The Kakao labor union announced on the 8th that it will hold a press conference opposing the sale of Kakao Mobility on the morning of the 11th at Sangyeonjae in Jung-gu, Seoul.

At this press conference, the union plans to express its position on the rumors of the sale of Kakao Mobility and disclose its future response plans.

The press conference will also include participation from the National Substitute Driver Labor Union, Rider Union, Public Transport Union Taxi Branch, and Webtoon Artists Labor Union.

Earlier, on the 6th, Bae Jaehyun, Kakao's Chief Investment Officer (CIO), stated in an internal notice that "the rumor that Kakao is considering selling a significant portion of its mobility shares is completely unfounded," and added, "We are considering a transition to a second-largest shareholder through a sale of shares in the 10% range."

Currently, MBK Partners, the largest private equity fund in Korea, is mentioned as a potential partner to acquire shares of Kakao Mobility. Employees of Kakao Mobility, including the union, oppose this, arguing that if a private equity fund becomes the owner of the company, it may focus solely on short-term profitability improvement rather than growth.

Seo Seungwook, the union branch chief, said, "Various stakeholders surrounding the Kakao platform will directly voice the opinions from the field."

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