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Quick Note - Kakao Corp. (035720 KS) (Neutral) - Evolution toward a proactive agentic ecosystem
研报英文原文证据摘录
Quick Note - Kakao Corp. (035720 KS) (Neutral) - Evolution toward a proactive agentic ecosystem
Global Markets Research
Kakao Corp. 035720.KS 035720 KS 4 June 2026
EQUITY: INTERNET & NEW MEDIA
RatingEvolution toward a proactive agentic ecosystem Remains Neutral
Target price KRW 45,000 RemainsQuick Note
Closing priceKakaomanagementattendedtheNomuraInvestorForumAsia(NIFA)2026andshared 4 June 2026 KRW 42,000
thecompany’skeystrategicinitiativeswithinvestors:Kakaoisundergoingafundamental
strategictransformation,pivotingfromitsrootsasamessenger-ledecosystemto
becomingaproactive,agent-centricplatform.ByembeddingAImodelsdirectlyintothe Research Analysts
dailyuserexperience,thecompanyismovingbeyondsimpleconnectivitytofacilitate South Korea Internet & New Mediaactive,intelligentserviceorchestration.Accordingtomanagement,thisevolutionis
Angela Hong - NFIKdesignedtodeepenuserengagement,whilesimultaneouslybuildingamorerobust,long- angela.hong@nomura.com
termmonetizationframeworkthatleveragesthecompany’sextensivereachandhigh- +822 3783 2360
frequencyusage.WhatremainstobeseeniswhetherthesecomplexAI-driveninitiatives
caneffectivelytranslateintosustainableincrementalrevenuegrowthwithoutalienating
theplatform'scoreuserbase,inourview.
Refined advertising and engagement strategies
The company’s advertising and engagement strategy is shifting toward a more data-driven
approach that prioritizes content consumption over legacy display boards. By utilizing
advanced preference data, Kakao aims to drive deeper user involvement, supported by
current data showing that AI-service users spend four minutes longer on the platform than
the 25-minute baseline. While the upcoming integration of "Kanana search" offers a
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