Net profit surged nearly 850% to 1.6 trillion won in 2021 from a year earlier on a 48% increase in sales to 6.1 trillion won. Kakao stands alongside Korea’s chaebols as the sixth-largest publicly traded company in South Korea, with a market cap of $34 billion. The self-made entrepreneur launched Korea’s most-popular messaging app in 2010, then expanded to other businesses including payments, banking, gaming and ride-hailing.Kim and his holding company K Cube over potential fair trade violations.
Amid concerns of heightened regulatory pressure, Kakao postponed listing fintech unit Kakao Pay until last November, when it raised $1.3 billion, and indefinitely pushed back the IPO of taxi-hailing app Kakao Mobility. In March, Kim signed the Giving Pledge to donate more than half of his personal assets to society. He says he now plans to focus on Kakao’s global business expansion.
Source: Tech Daily Report (techdailyreport.net)
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