Kakao Pay shifts to loss in 2023

SEOUL, Kakao Pay Corp. on Tuesday reported its 2023 net loss of 25.2 billion won (US$19 million), swinging from a profit of 26.8 billion won a year earlier. The company said in a regulatory filing that it continued to post an operating loss of 56.6 billion won for the year, compared with a loss of 45.5 billion won a year earlier. Sales rose 18 percent to 615.4 billion won. Source: Yonhap News Agency