IT giant Kakao is coming under intense criticism over its plan to sell off over 10 percent of its stake in its mobility affiliate to a private equity fund (PEF), according to industry and firm officials, Monday. Kakao owns a majority stake in Kakao Mobility, the operator of the ride-hailing service app Kakao T, which has an estimated total value of about 8.5 trillion won ($6.5 billion).
Kakao and Naver have announced they will adopt a remote work system as the norm even though some companies are making their employees return to office work - as the pandemic seemingly subsides, the companies said Tuesday.