Kakao said on Thursday it signed a memorandum of understanding with OKPOS to cooperate on services based on offline store data.

Executives from both companies attended the signing ceremony held the previous day. Kakao and OKPOS discussed ways to cooperate on services connecting online and offline channels and the scope of their respective roles. Under the agreement, the companies plan to explore the direction of a data-based cooperation model based on linking information accumulated during offline store operations with digital services.

Kakao has expanded digital touchpoints connected to users' daily lives based on its platform and service operations experience. OKPOS has pursued service upgrades spanning online and offline channels based on various data generated during store operations. The companies plan to discuss services and business models centered on data linkage based on user consent, drawing on each firm's strengths.

Following the agreement, Kakao plans to review the potential for linking offline store operating environments with digital services in various ways. It also plans to expand a data-based service model step by step through cooperation with a range of offline operators and solution companies. OKPOS also plans to gradually broaden the scope of data use and service touchpoints through cooperation with external platforms, based on its existing strategy to expand online services.

Kim Jung-yoon (김정윤), CEO of OKPOS, said the company has continuously pushed to expand online services based on offline store data. He said the agreement would further develop that effort. He added that the companies would continue discussions on service directions that can improve both store operating efficiency and user experience, based on their cooperation.

Hwang Jun-yeon (황준연), a Kakao Business domain leader, said the MOU marks the starting point of cooperation connecting offline store environments with digital services. He said the company would carefully discuss data-based service models through cooperation with various partners, with user experience at the center.