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News Summary: Kakao Talk's new content shop

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News,Business

EXPANSION PUSH: South Korea's Kakao Talk will launch an online music and electronic book shop next year as it tries to grow beyond a simple mobile messaging service.

BACKGROUND: Kakao has built on the success of that service, launched in 2010, expanding into online games, advertising and e-commerce. The company has lost money since but expects to make a profit this year.

OVERSEAS: The new service will be available only in South Korea, where roughly half of Kakao Talk's 66 million users are based. Kakao has been trying to grow abroad by partnering with companies in other markets.

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