April 16, 2024
Mobile & Internet
Kakao’s games publishing unit to merge into Kakao Games
[THE INVESTOR] Kakao, the operator of South Korea’s top mobile messenger KakaoTalk, said on Aug. 17 that it has decided to merge its game publishing unit into Kakao Games, a subsidiary that creates games, in an effort to boost competitiveness.
“It was a strategic decision to strengthen the game business unit,” said Rim Ji-hoon, CEO of Kakao, said in a press release.
The publishing unit under Kakao has so far carried out game publishing and intellectual property affairs of Kakao Friends, characters based on KakaoTalk emoticons.
Kakao also said it has decided to merge Kakao Games Holding, which holds a 41.8 percent stake in Kakao Games, into the combined company.
Kakao Games changed its name last year as it prepares to strengthen its role in the global games industry by launching games on different platforms, including smartphones, computers and virtual reality devices. Kakao Games is also pushing to go public on the Seoul bourse.
By Alex Lee and newswires (alexlee@heraldcorp.com)
“It was a strategic decision to strengthen the game business unit,” said Rim Ji-hoon, CEO of Kakao, said in a press release.
The publishing unit under Kakao has so far carried out game publishing and intellectual property affairs of Kakao Friends, characters based on KakaoTalk emoticons.
Kakao also said it has decided to merge Kakao Games Holding, which holds a 41.8 percent stake in Kakao Games, into the combined company.
Kakao Games changed its name last year as it prepares to strengthen its role in the global games industry by launching games on different platforms, including smartphones, computers and virtual reality devices. Kakao Games is also pushing to go public on the Seoul bourse.
By Alex Lee and newswires (alexlee@heraldcorp.com)
