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Games & Commerce

KakaoGames posts Q2 operating loss of 23 billion won, seeks rebound by expanding lineup

KakaoGames said on Tuesday it posted an operating loss of 23 billion won in the second quarter, citing stabilising revenue from existing live titles and a lack of new releases. Revenue fell about 35 percent from a year earlier to 75 billion won. The company plans a third-quarter management reshuffle and business overhaul, and will start pre-registrations in August for the mobile MMORPG “Dokkaebi’s World” ahead of an October launch.

Games & Commerce

From Kakao to Line Yahoo: KakaoGames launches new management setup

KakaoGames has launched a co-CEO management structure as it accelerates a shift to a Line Yahoo-led setup following a change in its top shareholder. Shareholders approved the appointment of Kim Tae-hwan and Lee Si-woo as inside directors, and the board later named them co-CEOs. The company said 300 billion won in new funds flowed in through a share sale and convertible bonds. Key tasks include detailing Line Yahoo synergies and delivering results from new game launches in the second half.