Kakao’s labor union is campaigning against the company’s planned pro rata split into KakaoAI and KakaoX, arguing that the proposal does not address management failures, accountability, employment security or working conditions. The union plans to persuade shareholders to reject the special resolution at the Dec. 17 extraordinary shareholders’ meeting, focusing first on the National Pension Service, which holds a 5.4% stake. Kakao says the separation will accelerate artificial-intelligence investment and allow investors to value its businesses more appropriately, potentially narrowing a $12.6 billion gap between the combined value of its businesses and its current market capitalization. The split is scheduled to take effect on Jan. 1, with KakaoAI scheduled to relist and KakaoX to change its listing on Jan. 27. The union is also seeking joint bargaining across the Kakao group on management reform, employment protection, restructuring, asset sales, compensation and governance. Separately, the KakaoBank union is preparing a five-day strike from the 31st through the 4th of the following month.