Daum Kakao’s net doubles on merger gain

Daum Kakao’s net profit doubles on merger gain

17 MAR 2015

Daum Kakao, the company behind South Korea’s most popular messaging app KakaoTalk, reported a sharp increase in its net profit last year due mainly to the merger between Daum Communication and Kakao Corp in October.

Its net profit jumped 127 per cent to KRW149.9 billion ($135 million), while revenue fell 6 per cent to KRW499 billion, the Korea Herald said.

The company said it would pay a dividend of KRW171 per common share or a total of KRW10 billion.

Late last year it expanded to offer games, e-commerce and a social network-based mobile wallet service, BankWalletKakao.

It also announced in December it would join rival LINE by launching a mobile taxi-hailing service.

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Joseph Waring

Joseph Waring joins Mobile World Live as the Asia editor for its new Asia channel. Before joining the GSMA, Joseph was group editor for Telecom Asia for more than ten years. In addition to writing features, news and blogs, he...

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