Kakao founder Kim Beom-su urged the CEOs of its affiliates to be wary of lax management during their fifth emergency meeting on Monday, although he is said to have not mentioned plans for a personnel reshuffle this time.
Kakao Games shares surged nearly 10 percent, Friday, after the company announced on Thursday afternoon that it would defer a plan to list its subsidiary, Lionheart Studio. Industry analysts said the withdrawal of the listing of Kakao Games subsidiary would enable Kakao Games to avoid depreciation, adding that the company s value would be reevaluated.
The landscape of South Korea’s game industry has been shaken up in the past year, as newcomers took the market by storm while traditional powerhouses slipped.