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Photo courtesy of Kakao Mobility |
[Alpha Biz= Kim Jisun] The labor union of Kakao has expressed strong opposition to the company’s decision to sell AXZ, the wholly owned subsidiary that operates the Daum web portal, citing concerns over transparency and job security.
On February 3, Kakao Labor Union branch head Seo Seung-wook said Kakao should present concrete measures to ensure employment stability rather than pursuing what he described as an opaque sale process.
The union said Kakao had previously transferred employees from Kakao Enterprise and DK Techin to AXZ while pledging a “new beginning,” only to move toward selling the unit just eight months after AXZ’s establishment.
According to the union, Kakao had already agreed with labor representatives on principles of job security and sustainable growth under a coexistence agreement, and those commitments should be upheld in the current sale process.
The union is demanding greater information disclosure, consultations on employment stability, faithful implementation of the coexistence agreement, and measures to ease workers’ job insecurity.
Dozens of Kakao employees reportedly transferred to AXZ shortly before the spin-off. AXZ is currently a 100%-owned subsidiary of Kakao.
Kakao announced on January 29 that it had signed a memorandum of understanding (MOU) with Upstage to sell AXZ, which operates the Daum portal. Under the deal, Kakao plans to transfer its entire stake in AXZ to Upstage in exchange for acquiring a minority stake in Upstage through a share swap.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
