Kakao rules out turning Kakao X into holding company

Kakao said Friday it has no plans to turn Kakao X, the investment company to be created through its planned corporate split, into a holding company. “We can say with certainty that there are absolutely no plans to convert Kakao X into a holding company after the split,” Kim Do-young, CEO nominee for Kakao X, said at a briefing Friday afternoon. Kakao’s board earlier Friday approved a plan to split the company into Kakao AI, a newly established entity, and Kakao X, which will remain as the surviv