Kakao (035720.KS) has secured fresh capital for future business investments including artificial intelligence (AI) by divesting roughly 1 trillion won worth of Dunamu shares held by its subsidiary Kakao Investment. By liquidating part of its stake in Dunamu, the operator of cryptocurrency exchange Upbit, Kakao reaped returns of about 300 times its original investment and plans to accelerate its AI-centered growth strategy.
In a regulatory filing Wednesday, Kakao said Kakao Investment will divest 2.284 million shares of Dunamu, or 6.55%, for 1.0325 trillion won.
Following the disposal, Kakao Investment's holdings in Dunamu will fall to 1.406 million shares, or a 4.03% stake. The transaction is scheduled for next month on the 15th.
The sale delivers Kakao a return of more than 300 times its original investment. Kakao Ventures invested approximately 200 million won in Dunamu shortly after the company's founding in 2013, and Kakao itself injected an additional 3.3 billion won in 2015. Through this partial stake sale 11 years later, Kakao recovered more than 300 times its investment on a simple calculation basis. Applying the same transaction price to the remaining 4.03% stake, the total investment return is estimated at roughly 500 times. With the residual stake intact, Kakao can expect not only future dividend income but also additional gains tied to changes in Dunamu's corporate value.
Kakao is expected to deploy the 1 trillion won proceeds to strengthen its AI and platform competitiveness. In the regulatory filing, Kakao described the purpose of the Dunamu share disposal as "securing funding for future investments."
"Accelerating the growth of our AI business is currently Kakao's top priority, so securing investment resources is important and essential," a Kakao official said. "Building up funding to secure not only AI but also various future growth engines will contribute more to enhancing the medium- to long-term corporate value of the entire group."
