Kakao Games reportedly stated its intention of becoming a worldwide comprehensive game company with its listing on the KOSDAQ. The company recently held a press conference online and discussed its vision, core competitiveness and future business strategy.
As per the trusted reports, Kakao games has been showing robust growth since its launch in 2016. The company is promoting sustainable expansion through publishing its domestic as well as overseas capabilities, sources claimed. Additionally, the company is apparently promoting its hardcore and casual gaming portfolio alongside its intentions of establishing new businesses apart from games across various fields in domestic and international market.
Reportedly, Kakao Games registered an operating profit of over 27.8 billion in first half of 2019, witnessing a 63.7% growth as compared to the same time span in 2018. In fact, its net incomes had also raised by 264% and reached 27.8 billion won, whereas the sales grew by 8.2% and accounted for 203 billion won. The company witnessed CAGR of 57% since 2017 and is likely to continue the same in subsequent years, stated sources aware of the development.
Nam Gung-hoon, CEO of Kakao Games reportedly claimed that the company is the only domestic game enterprise having a powerful platform deployed on online PC as well as mobile and has developed to be prominent company over the years.
He further added that the company is focusing on securing long-term growth engines and will move forward to be the representative global company in Korea through actively targeting the overseas markets.
As per the credible sources, Kakao Games raised over 38 billion won during its IPO. The finances will be used in betterment of its status in international and domestic game industry. The company plans to utilize these funds particularly in securing such as new IPs, strengthening development capabilities, and global expansion.