Kakao to acquire Milk Partners?… “Confirming the facts”

According to some media reports that Kakao is acquiring Milk Partners, “we are checking the facts.”

According to the investment banking (IB) industry on the 6th, it was reported that Kakao Group is imminent to acquire Milk Partners, an operator of the virtual asset platform ‘Milk’.

Milk is a blockchain-based point integration platform. In 2020, the number of users exceeded 200,000, and partners include Yanolja, Shinsegae Duty Free, Jin Air, and Megabox. By issuing Milkcoin, affiliate service points can be linked to the platform and used.

In April, Ground X, a block chain technology affiliate of Kakao, invested in ‘Key Inside’, the parent company of Milk Partners, as its first equity investment in an external company. CEO Jo Jung-min, who runs Milk Partners and Key Inside, is from Kakao Pay.

Regarding the news of the acquisition of Milk Partners, a Kakao official said, “We are checking the facts.