Kakao is seeking minority shareholder support for a planned split into KakaoAI, focused on KakaoTalk, advertising, commerce and artificial intelligence, and KakaoX, which would oversee affiliates including KakaoBank and KakaoPay, investments and portfolio management. At an online minority shareholder meeting on Sept. 16, Kakao said the separation would enable faster AI decision-making, more focused capital allocation and potentially higher corporate value. It said proceeds from selling its Dunamu stake totaled about 1.6 trillion won and generated approximately 1 trillion won in after-tax profit, with KakaoX committing 300 billion won, or 30%, to share buybacks and cancellations over three years. KakaoX also plans to return 30% of subsidiary dividends and investment profits, while KakaoAI's latest framework calls for returning 20% to 25% of free cash flow, rising to as much as 40% if cash flow grows more than 50% from the previous year. The company targets KakaoX annual sales growth of 13.3% across key businesses and consolidated sales above 10 trillion won by 2030. Kakao said shareholder ownership proportions, including founder Kim Beom-su's 13.27% stake at the end of June, would not change and denied plans for follow-up transactions, a holding-company conversion or a rights offering through in-kind contributions. The labor union, however, said the meeting disclosed no new information, with Kakao preparing 14 of 16 Q&A questions and allowing shareholders about six minutes for questions; it demanded written answers, management reforms and employment protections before opposing the split.