Kakao Mobility's Revenue Decreased by 400 Billion Won Last Year... "Impact of Accounting Standard Changes"

Last Year's Sales Also Fell Below 8 Trillion Won

Kakao Mobility's sales decreased by approximately 400 billion KRW last year. This is attributed to the change in revenue recognition accounting standards from the gross method to the net method.

On the 18th, Kakao Mobility announced in a notice of shareholders' meeting recently sent to shareholders that its consolidated sales for last year amounted to 601.4 billion KRW. Considering that sales exceeded 1 trillion KRW the previous year, this represents a decrease of about 400 billion KRW.

This result is analyzed to have come from applying the net method for the first time instead of the previously used gross method. According to the revised standard, last year's sales, which were announced as the highest ever annual performance at 8.1058 trillion KRW, will also fall below 8 trillion KRW with a decrease of 400 billion KRW.