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[Alpha Biz=(Chicago) Reporter Paul Lee] Kakao has decided to provide large-scale funding to subsidiaries specializing in artificial intelligence (AI) and cloud.
Amid fierce competition from global big tech companies in the AI field, Kakao is strengthening its investment in related technologies.
Kakao announced on the 13th that it will participate in a 70 billion won shareholder allocation paid-in capital increase decided by AI development subsidiary Kakao Brain.
Kakao plans to acquire 700,000 new shares issued by Kakao Brain for 100,000 won per share.
After paying 40 billion won on the 19th of this month, an additional 30 billion won will be paid on October 19th. Kakao Brain will use this as an operating fund.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
