“[Seoul Economic Daily] Kakao (035720) plans to sell its screen golf subsidiary, Kakao VX, within the year. It is analyzed that Kakao Games (293490) will focus on its core business of game publishing.
According to the IT industry on the 19th, Kakao and Kakao Games announced in their business report the previous day that they have established a plan to sell the golf business division, which includes Kakao VX and its subsidiaries, and expect to implement this plan within the year. Kakao Games explained, ‘Assets and liabilities of the golf business division are classified as held for sale, and operational results from the golf business are categorized as discontinued operations.’ They added that the completion of the sale plan requires the consent of minority shareholders.
Kakao VX, in which Kakao Games holds a 65.2% stake, has been operating screen golf platforms and golf reservation platforms. Since last year, Kakao Games has been pushing to sell Kakao VX, while also withdrawing from the golf equipment, healthcare platform, and non-fungible token (NFT) business sectors previously operated by Kakao VX.”