Kakao Corp.
Company History
Kakao History: Founding, Growth & Key Milestones
Founded 2006 in Seoul, South Korea
When was Kakao founded?
Kakao was founded in 2006 in Seoul, South Korea by Beom-soo Kim, making it 20 years old.
- Founded
- 2006
- Founding place
- Seoul, South Korea
- Founders
- Beom-soo Kim
- Headquarters today
- Jeju City, South Korea
- Milestones documented
- 12 (1995–2026)
- Current CEO
- Shina Chung
- Acquisitions
- 3
| Year | Event |
|---|---|
| 1995 | Daum Communications founded |
| 2006 | IWILAB founded |
| 2010 | KakaoTalk launches |
| 2014 | Merger with Daum |
| 2016 | LOEN Entertainment acquired |
| 2017 | KakaoBank Launches |
| 2021 | KakaoBank and Kakao Pay go public |
| 2022 | Pangyo data center fire |
| 2023 | SM Entertainment control |
| 2024 | Shina Chung becomes CEO; founder arrested |
| 2025 | Founder acquitted; record year |
| 2026 | Split into Kakao AI and Kakao X proposed |
- Where was Kakao founded?
- Kakao was founded in Seoul, South Korea in 2006.
- Who founded Kakao?
- Kakao was founded by Beom-soo Kim.
- When did Kakao start?
- Kakao was founded in 2006.
- How old is Kakao?
- Kakao is 20 years old as of 2026.
Founding Story
Kim Beom-su co-founded the game portal Hangame, which merged with Naver to form NHN, and left NHN in 2007. He had founded IWILAB in December 2006, and after the iPhone reached Korea the team launched KakaoTalk in March 2010 as a free alternative to paid SMS. It spread quickly, and the company was renamed Kakao in September 2010. In October 2014 Kakao merged with Daum Communications, the portal founded by Lee Jae-woong in 1995, forming Daum Kakao, which was renamed Kakao Corp. in 2015.
Founders
Beom-soo Kim
Kim Beom-su studied industrial engineering at Seoul National University and worked at Samsung SDS before starting Hangame. After NHN he founded IWILAB, whose team launched KakaoTalk in March 2010 as a free, data-based alternative to paid SMS. He led Kakao through the 2014 Daum merger and its expansion into payments, mobility, and content, stepped back from day-to-day management, and in 2021 pledged to give away more than half of his wealth, joining The Giving Pledge. He remains Kakao's largest shareholder (13.27% as of June 2026, with friendly stakes via K Cube Holdings bringing the total to about 24%) and heads its CA council's Future Initiative Center. He was arrested in July 2024 over alleged SM Entertainment share manipulation, acquitted at first instance in October 2025, and faces an appeal verdict in November 2026. (Exact birth year remains publicly undisclosed).
Key Milestones
Daum Communications founded
Lee Jae-woong founded Daum Communications, which became one of South Korea's leading web portals and later merged with Kakao.
Source: en.wikipedia.orgIWILAB founded
Kim Beom-su founded IWILAB in December 2006, the startup that would become Kakao.
Source: en.wikipedia.orgKakaoTalk launches
KakaoTalk launched in March 2010 as a free mobile messenger, and the company took the Kakao name in September 2010.
Source: en.wikipedia.orgMerger with Daum
Kakao merged with Daum Communications in October 2014 to form Daum Kakao, renamed Kakao Corp. in 2015.
Source: en.wikipedia.orgLOEN Entertainment acquired
Kakao acquired LOEN Entertainment, operator of the Melon music service, which later became part of Kakao Entertainment.
Source: en.wikipedia.orgKakaoBank and Kakao Pay go public
KakaoBank and Kakao Pay listed on the Korea Exchange in 2021, drawing later criticism of the group's subsidiary-listing strategy.
Source: en.wikipedia.orgPangyo data center fire
An October 2022 fire at the SK C&C data center in Pangyo knocked KakaoTalk and linked services offline for several days.
Source: en.wikipedia.orgSM Entertainment control
Kakao and Kakao Entertainment secured a controlling stake in SM Entertainment after a bidding contest with HYBE.
Source: en.wikipedia.orgShina Chung becomes CEO; founder arrested
Shina Chung became CEO in March 2024. In July 2024 founder Kim Beom-su was arrested over alleged SM Entertainment share manipulation.
Source: en.wikipedia.orgFounder acquitted; record year
Kim Beom-su was acquitted at first instance in October 2025. Kakao posted record FY2025 revenue of ~$5.75 billion (KRW 8.099 trillion) and operating profit of ~$520 million (KRW 732 billion).
Source: t1.kakaocdn.netSplit into Kakao AI and Kakao X proposed
After record Q2 2026 results, Kakao announced in August 2026 a plan to split into Kakao AI and investment company Kakao X.
Source: en.sedaily.comMajor Acquisitions
Daum Communications
2014Merger combining KakaoTalk with Daum's web portal and advertising business.
LOEN Entertainment (Melon)
2016Acquired South Korea's leading music streaming service and a music label.
SM Entertainment (controlling stake)
2023Secured control of the K-pop agency after a bidding contest with HYBE.
Keep researching Kakao
Kakao Company History FAQ
What are the historic milestones across the 15+ year evolution of Kakao Corp.?
Key milestones include KakaoTalk launch (2010), Game Center launch (2012), Daum reverse merger (2014), acquiring Melon (2016), KakaoBank & KakaoPay launches (2017), KakaoBank & Pay IPOs (2021), Ansan Data Center opening (2023), SM Entertainment acquisition (2023), and Kanana AI launch (2024).
How did KakaoTalk survive and defeat global giants WhatsApp and Line in South Korea in 2010 to 2011?
KakaoTalk out-executed international rivals in South Korea by launching first, maintaining zero latency on Korean mobile networks, introducing localized animated emoticons, and releasing features weekly based on direct Korean user feedback.
What was the impact of the October 2022 Pangyo data center fire on South Korean society?
On October 15, 2022, a lithium-ion battery fire at the SK C&C Pangyo data center knocked KakaoTalk, KakaoPay, and Kakao T offline for several days. The outage paralyzed South Korean transportation and payments, underscoring KakaoTalk's status as vital national public infrastructure.
When did Kakao open its state-of-the-art Ansan Hyper-Scale Data Center in 2023?
In September 2023, Kakao completed its first self-owned hyper-scale green data center at Hanyang University ERICA Campus in Ansan (holding 100,000 servers), equipped with rain-cooled energy systems and quadruple-redundant power backup.
What was the significance of the 2024 launch of the 'Kanana' AI companion ecosystem?
At the if(kakao) 2024 conference, CEO Shina Chung unveiled Kanana, embedding autonomous conversational AI companions into mobile chats, marking Kakao's official transformation into an AI-first technology ecosystem.
What is Kakao's long-term vision for the future of technology and human connection?
Kakao's mission is 'To make a better world with people and technology', harnessing artificial intelligence, smooth mobile connectivity, and high-quality creative entertainment to bring warmth, joy, and convenience to people worldwide.
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