On Nov. 6, 2026, Kakao plans to start a 150 billion won buyback and cancel all shares acquired, while delaying its planned split to allow more time for Kakao AI’s preliminary relisting review.
The buyback covers half of a 300 billion won program announced earlier. Kakao said cash dividends from Kakao Investment will fund the purchase. Kakao X plans to buy back and cancel the other 150 billion won during 2027. Kakao described the initial purchase as an early step in its shareholder-return plan.
Kakao’s DART buyback filing estimates it will acquire 5,154,639 common shares, using the Nov. 4 closing price of 29,100 won as the basis. The purchase period runs through Feb. 5, 2027. The filing says the final share count may vary with Kakao’s share price.
Kakao’s revised split plan would allocate an additional 263.6 billion won to Kakao AI, raising its estimated net assets to about 3.2 trillion won from about 2.9 trillion won. The proposed split ratio is now about 0.611 for Kakao X and 0.388 for Kakao AI, compared with the earlier proposal of about 0.635 and 0.364, respectively. Kakao said the final ratio could change slightly.
The plan would place KakaoTalk platform services, including advertising, commerce and AI, within Kakao AI. Kakao X would retain investment operations and stakes in affiliates. Kakao said in August that separate companies could pursue distinct growth plans and be assessed separately by the market.
The revised schedule sets the split for Feb. 1, 2027. Shareholders are due to vote on the proposal at an extraordinary meeting Jan. 15, followed by Kakao AI’s planned relisting and Kakao X’s change listing on Feb. 25. Kakao said it may adjust the timetable after consulting relevant authorities.
