The head of Kakao, the operator of Korea s top mobile messenger, said Friday she will buy shares of the company worth 200 million won ($147,383) every year over the next two years in a bid to boost shareholder value.
Korean IT giant Kakao on Thursday appointed Chung Shin-a as its first female, chief while it is facing urgent challenges in revamping its corporate culture and management. The announcement was made as she gained a nod from shareholders during the annual meeting and a separate approval from the board of directors earlier in the day at the company’s headquarters in Jeju Island. After being named as the CEO nomine.
We are experimenting with the integration of KakaoTalk and AI so that all people can experience AI in their daily lives,” Kakao CEO Hong Eun-taek told investors during a 2023 fourth-quarter conference call. “Last December, we launched features such as summarizing unread messages and changing the tone of messages in chat rooms based on a lightweight language model developed by Kakao Brain, and 1.5 million people experienced it in just a month.”
Kakao said Thursday it logged all-time high annual sales in 2023 due to increased profitability from its mobile messenger, KakaoTalk. The IT giant reported 8.11 trillion won ($6.08 billion) in sales last year, up 14.1 percent from a year earlier. It marks the first time for the company surpassing the 8 trillion won mark in annual sales. Annual net profit, however, fell 13.5 percent on-year to 501.9 billion won and it.
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