Kakao\'s Kakao Friends character Ryan will take part in the Water Festival at Daegu Samsung Lions Park from Aug. 4 to 9 and hold on-site events, the company said on Sunday. A Samsung Lions x Ryan merchandise collaboration released in July sold out quickly online and drew long lines at an offline store. Kakao said the shared 10th anniversaries of Ryan and the ballpark helped drive purchases.

Kakao is accelerating its shift to artificial intelligence in the second term of CEO Jeong Shin-a, after a first phase focused on restructuring affiliates and governance. The company is redefining KakaoTalk as an AI-based execution platform and expanding external partnerships and global business initiatives. Kakao has set targets for revenue growth and profitability and plans shareholder returns. Investors remain focused on when and how AI monetisation will show up in earnings.