[Reporter’s Notebook] Kakao’s Regret: Shifting Responsibility for 'Neighborhood Business' Issues onto Kakao Mobility

[Asia Economy Reporter Kang Nahum] Kakao is preparing to part ways with Kakao Mobility. The plan is to sell off its 10% stake in Kakao Mobility and become the second-largest shareholder. Given the recent issues raised about platform monopolies and the societal demand for a near-complete transformation, Kakao believes that restructuring its stake in Kakao Mobility is inevitable.

The sense of betrayal felt by Kakao Mobility members regarding this plan is understandable. However, the logic Kakao presents and the communication methods it employed during the disclosure of the sale plan leave much to be desired. Kakao Mobility employees cannot hide their disappointment that the sale plan was first announced to Kakao employees, the parent company. The employees most interested in and opposed to the sale?the Kakao Mobility staff?were effectively 'passed over.' Their hard work and efforts have not been considered at all.

The lack of honesty about the company sale also draws criticism from the members. Bae Jae-hyun, Kakao’s Chief Investment Officer (CIO), explained, "Kakao is listening to society’s concerns about monetizing mobility services, expanding business areas, and eventually an IPO." In response, a Kakao Mobility employee said, "We were appalled to see the approaching deadline for early investors like TPG to recover their funds being framed as 'societal concerns' to justify the move." Kakao Mobility employees even question whether the controversy over neighborhood businesses that targeted Kakao last year is being subtly shifted onto Kakao Mobility’s responsibility.

The success of 'KakaoTalk,' which enabled Kakao to grow to its current position, was achieved by focusing on the essence of 'communication.' It connects individuals, and countless companies communicate with consumers through KakaoTalk. The businesses operated by its affiliates are also fundamentally based on communication. Kakao Mobility’s business began by directly communicating with taxi drivers, who previously had to raise their hands, through the app called 'KakaoT.'

Kakao, which connects everyone in the world through a single messenger, ironically responds with a lack of communication when it comes to society and, furthermore, its own employees. Non-communication rather than communication only repeatedly opens small wounds. Although there is no beautiful farewell in the world, at least minimal manners must be observed until the moment of parting.

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