South Korea's Kakao drops plan to sell stake in taxi-hailing unit

FILE PHOTO: The Kakao messaging application and the Kakao T taxi booking application are seen on a mobile phone in this illustration photo March 13, 2018. REUTERS/Thomas White/Illustration

SEOUL (Reuters) - South Korean tech conglomerate Kakao Corp said on Thursday it is no longer exploring plans to sell about 10% of unit Kakao Mobility after objections from unionised employees and other stakeholders.

Kakao holds a 57.6% stake in Kakao Mobility, whose app Kakao T offers South Korea's most popular taxi-hailing service with 31 million registered users.