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Games & Commerce

KakaoAI inaugural board takes shape, with former minister and ex-tax chief joining

Kakao plans to staff the inaugural board of KakaoAI, which it will create through a corporate spin-off, with experts in technology, policy and finance. A company filing shows the board is set to have seven members, including two inside directors and four outside directors. They include former science minister Lim Hye-sook (임혜숙) and former National Tax Service chief Kim Dae-ji (김대지). Kakao plans to complete the split on Jan. 1.

Games & Commerce

Naver to invest additional 130 billion won in resale platform Kream

Naver will invest 130 billion won in a paid-in capital increase by affiliate Kream, it said in a regulatory filing. Naver approved the investment at a board meeting on Aug. 4 and plans to acquire 36,861 common shares, with the timing set for the second half of this year. The company said the purpose is to secure funds to expand Kream’s business scale. The total amount invested in Kream will be 179.999 billion won including this investment.

Finance

Higher bar for \'split listings\' to reshape subsidiary IPO landscape

A reform plan on duplicate listings by the Financial Services Commission and Korea Exchange takes effect from Aug. 3, raising hurdles for listing unlisted subsidiaries controlled by listed firms. Spun-off subsidiaries must obtain shareholder approval, while acquired or newly established units face tougher reviews without consent. The plan limits duplicate listings in principle, allowing exceptions only with shareholder protection measures and confirmed subsidiary independence, and imposes five duties on parent boards, along with special committee review requirements.