Korea’s local internet behemoth Kakao scored 3.898 trillion won ($3.3 billion) in sales and 20.66 billion won in operating profit in 2019, both of which mark the highest yearly performance by the firm established in 2010. The sales increased by 28 percent from 2018 and operating profit by 183 percent.
The company attributed the earnings to new business models taking shape.
They include KakaoTalk Biz Board (TalkBoard), a business-to-business service based on KakaoTalk allowing users to make reservations, register memberships and purchase goods and services offered by connected companies. New businesses also include taxi-hailing and chauffeur reservation services.