 ▲ IMAGE_CAPTION |
Kakao Pay
Kakao Pay announced that it has achieved its first annual operating profit.
Kakao Pay disclosed on the 6th that its annual transaction volume last year increased 11% year-on-year to KRW 185.6 trillion, while consolidated revenue rose 25% to KRW 958.4 billion.
Annual operating profit came to KRW 50.4 billion, marking the company’s first consolidated profit. Annual net income totaled KRW 55.7 billion, and earnings before interest, taxes, depreciation, and amortization (EBITDA) amounted to KRW 83.3 billion.
Fourth-quarter transaction volume increased 14% from the same period to KRW 49.3 trillion, and revenue grew 24% to KRW 269.8 billion.
Fourth-quarter operating profit reached KRW 20.8 billion, the highest level ever on a consolidated basis.
Kakao Pay highlighted business expansion, achievements in its data business, and the expansion of its platform base as its key accomplishments last year.
In terms of business expansion, the company extended its value chain by linking general payments, alternative credit scoring, and consultation services across its existing businesses such as payments, loans, and insurance.
Regarding its data business, Kakao Pay leveraged its data assets to deliver hyper-personalized services that meet users’ financial needs, fostering customer lock-in.
As part of building its financial platform, the company launched services optimized for diverse lifestyles, including seniors, minors, and foreigners, in addition to its existing user base.
Its subsidiary Kakao Pay Securities posted revenue of KRW 242 billion and operating profit of KRW 42.7 billion, achieving its first annual profit.
Kakao Pay Insurance recorded original insurance premium revenue of KRW 19.6 billion in the fourth quarter.
Kakao Pay stated that it plans to combine new growth engines with synergies across the group this year.
The company plans to prepare for stablecoins, blockchain, and security token offerings (STOs), while identifying opportunities for AI service synergies within the Kakao Group.
Shin Won-geun, CEO of Kakao Pay, said, “This year as well, we will continue to grow by driving sustainable growth and innovation to deliver better financial experiences and fulfill our social responsibilities.”
Disclaimer: This article is an English translation provided for informational purposes only.