Kakao Achieves Record Earnings Amid Lockdown

  • By Oh Rora

    August 07, 2020 11:12

    Mobile messaging giant Kakao achieved record earnings in the second quarter as the coronavirus lockdown led to a surge for online services.

    Kakao on Thursday said its operating profit jumped 142 percent on-year to W97.8 billion from April to June (US$1=W1,186). Sales rose 30 percent to W952.9 billion, which was also a record.

    Co-CEO Yeo Min-soo said this year mark's Kakao's 10th anniversary, and its services "have become part of daily life." Besides the popular chat app, Kakao also sells webtoons, emoji and other content and has an online-only bank and mobile payment service.

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