Some economic experts note that Kakao’s stellar growth over the past decade signifies South Korea’s paradigm shift from a manufacturing-oriented country to a global leader in digital sectors including the metaverse. It has a bank, a payment service, a game company, an entertainment company, a fashion unit as well as a mobility platform. In terms of market cap, Kakao Group is now the biggest business conglomerate in South Korea that has no presence in the manufacturing sector.

Looking at the numbers provided by the Korea Fair Trade Commission (KFTC), Kakao only had 26 affiliates in 2014 but now has 128 firms under its umbrella. Kakao has materially achieved the conglomerate status as well. The terminology offers a stark contrast to its archrival Naver Corp., as the term “Naver Group” is hardly used by anyone in South Korea. The increased prevalence of the term “Kakao Group” among the country’s key media outlets signifies that Kakao has virtually become a conglomerate, just like the Samsung Group and the Hyundai Motor Group, in its size and sphere of influence within the Korean society. Kakao Corp., which a decade ago was merely a mobile messenger operator, has now grown into one of the largest business groups in South Korea. Unlike　other　major　manufacturing-oriented　conglomerates　in　Korea,　Kakao's　first　business　was　digital-based.

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