Kakao Mobility Facing Sale Crisis Prepares Win-Win Plan... Begins Persuasion Efforts with Kakao

[Asia Economy Reporter Kang Nahum] Kakao Mobility has prepared a 'Win-win Plan for the Sustainable Growth of Mobility and Society.' They plan to deliver this to the Kakao Community Alliance (CAC) and begin full-scale persuasion efforts to prevent the sale.

According to industry sources on the 17th, Kakao Mobility held an all-hands meeting yesterday afternoon, where all employees participated to gather their opinions on the win-win plan. The plan was drafted with core keywords such as innovation, growth, partnership, and sharing.

Kakao Mobility plans to finalize the win-win plan after collecting employee feedback and deliver it to Kakao CAC. A Kakao Mobility official stated, "We plan to deliver the plan to Kakao CAC soon."

CAC is the organization that determines the overall direction of the Kakao community and holds the key to the sale of Kakao Mobility. Earlier, at the end of last month, Ryu Geung-seon, CEO of Kakao Mobility, requested CAC to postpone the sale to the private equity fund MBK Partners and discuss ways for Kakao and Kakao Mobility to work together. At that time, CAC responded, "Kakao Mobility expressed its intention to propose a new growth direction for social coexistence, and CAC respects these efforts."

Subsequently, Kakao Mobility formed a consultative body composed of various members. This included in-house experts who could discuss issues such as the controversial infringement on local businesses in Korea, relations with overseas operations, and understanding of the platform business itself, as well as employees of various seniority levels to identify current issues felt by different generations. The consultative body was formed through employee recommendations and voluntary participation.

Once CAC receives the win-win plan from Kakao Mobility, it will review it internally and gather investor opinions to decide whether to accept it.

Some speculate that the sale may be withdrawn. Recently, due to the taxi supply shortage crisis, there is a possibility that the government will ease mobility-related regulations, increasing the potential for business growth. Kakao also listed Kakao Mobility as a key affiliate in the 'Digital Transformation for Everyday Innovation' sector in its '2022 First Half Corporate Group Report' published yesterday. This contrasts with the mention of seven companies in the 'sectors currently undergoing or requiring liquidation procedures.'

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