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South Korea's Kakao swings to 2020 profit on strong e-commerce

Company aims for growth as chairman vows to donate half his wealth

Kakao, South Korea's second-largest internet company, posted a full-year net profit of 167.1 billion won ($149.8 million), reversing a net loss of 341.9 billion won in 2019. (Photo by Yuki Kohara) 

SEOUL -- Kakao, South Korea's second-largest internet company, is aiming for further growth this year after swinging to a profit in 2020, thanks to strong growth in its e-commerce and online game businesses amid the pandemic.

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