Kakao to sell and shut down non-game divisions to streamline operations (South Korea)

Kakao Games, a major gaming company, has announced that it has formulated a plan to sell Kakao VX and its affiliated golf business division, with the plan due to be implemented in 2025.
The golf business unit's assets and liabilities will be sold and operations will cease in the future. Completion of the sale plan requires the consent of non-controlling shareholders.
Kakao VX is 65.2% owned by Kakao Games. Its main business is screen golf and the construction of a golf reservation platform.
This is not the first time the company has decided to suspend operations. Since 2024, it has been working on selling Kakao VX while also developing golf equipment, a healthcare platform, and an NFT (non-fungible token) business.
The company is also closing down its gaming division. These moves mean it will focus on its core gaming business. The company expects sales to fall by 1.2% in 2024 due to a lack of commercially successful new titles and sluggish performance at its non-gaming subsidiaries.
27.9% and operating profits fell 91.3%. For this reason, the company plans to offer new titles through various platforms in 2025.
In addition to conducting a public beta test, the company will launch "Goddess Order" globally from July to September, and "Project Q" from October to December.