Kakao Pay faces 57.5 billion won operating loss amid T-Money refunds

Kakao Pay reported on the 4th that its consolidated operating loss for the last year was 57.5 billion won, a continued deficit compared to the previous year (56.6 billion won).

Revenue increased 24.5% year-on-year to 766.2 billion won. The net loss narrowed to 21.5 billion won. The operating loss in the fourth quarter was 33 billion won, which was larger than the loss of 21.5 billion won in the same period last year. For this quarter, revenue and net income were 21.82 billion won and 5.2 billion won, respectively. The total transaction value in the fourth quarter reached 43.1 trillion won, marking a 13% increase year-on-year.

By institutional sector, both payment and remittance services showed double-digit growth rates. The transaction value of payment services rose 16% compared to the same period last year, while offline payment grew 138%, continuing triple-digit growth. Remittance services also saw a 14% increase.

Kakao Pay noted, "The one-time loss of 31.5 billion won, resulting from proactive refunds related to the TMON and WEMAKEPRICE incident, has been reflected; excluding this, the adjusted net income is estimated to have transitioned to an annual profit."