(Photo= Yonhap news)

 

[Alpha Biz= Reporter Kim Minyoung] Kakao is consecutively withdrawing its overseas subsidiaries of Kakao IX.

According to Kakao's quarterly report and industry sources on the 20th, the company liquidated its 'Kakao IX China' subsidiary, which was established in October 2018, in the first quarter of this year. KakaoIX is involved in the distribution of Kakao Friends character products and the character IP (intellectual property) licensing business. Kakao IX China was the third global subsidiary established by Kakao to enter the global IP market.

Starting with the closure of 'Kakao IX UK' (United Kingdom) in 2021, Kakao IX has since withdrawn from 'Kakao IX US' (United States) in 2022 and 'Kakao IX Japan' (Japan) last year. Currently, only 'Kakao IX HK' (Hong Kong) remains. Given the current trend, there is a high possibility that the Hong Kong subsidiary will also be liquidated as early as the first half of next year.

Kakao's global content subsidiary, Kakao Piccoma, is also in the process of withdrawing its French subsidiary, with related procedures underway.

The overseas revenue proportion of Kakao's total sales (on a consolidated basis) fell by 1.1 percentage points, from 20.6% in 2022 to 19.5% last year.

 

 

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