Kakao Mobility and LG Uplus Establish Joint Venture for Electric Vehicle Charging

Kakao Mobility will establish a joint venture with LG Uplus to operate an electric vehicle charging service business.

Kakao announced this on the 30th through a major management report of its subsidiary, Kakao Mobility.

Kakao Mobility will acquire 50% (10 million shares) of the total issued shares of the joint venture, and LG Uplus will acquire 50% plus one additional share.

Kakao Mobility's acquisition amount is 25 billion KRW, and the purpose of the acquisition is stated as "securing competitiveness in the electric vehicle charging market."

The joint venture will be included as a consolidated subsidiary of LG Uplus. The company name and CEO will be finalized upon the establishment of the corporation.

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