Former Kakao Enterprise CEO Baek Sang-yeop / Courtesy of Kakao EnterpriseBy Lee Kyung-minKakao Enterprise, the business-to-business (B2B) subsidiary of Kakao Corp., said it will fortify cloud-based businesses, in a move to restructure the money-losing entity which is certain to extend years of losses that began in 2021. Its net loss came to 161.2 billion won ($119.9 million) in 2022, steeper than the 96.3 billion won registered a year earlier. The net figure for 2020 was a profit of 67.8 billion won. Most of the almost 1,000 Kakao Enterprise employees will find new positions in the local IT titan's subsidiaries. AI chatbot image of Kakao Enterprise / Courtesy of Kakao Enterprise

Source: The Times May 14, 2023 12:16 UTC