Kakao Approves Spin-Off into Kakao AI and Kakao X for AI-Driven Overhaul

Kakao is completely reorganizing its governance structure to match the artificial intelligence (AI) era.

Kakao held a board meeting today (the 21st) and approved a corporate split into Kakao AI (a newly established entity) and Kakao X (the surviving entity).

Based on the book value of net assets, the split ratio is 0.36 for Kakao AI and 0.64 for Kakao X. Existing shareholders will receive shares in both companies according to the split ratio.

Kakao plans to hold an extraordinary general meeting of shareholders on December 17, complete the split on January 1 of next year, and pursue the re-listing of Kakao AI and the changed listing of Kakao X on the 27th of the same month.
※ Please note: This article was translated by AI and may contain errors.