피투자회사에 대한 유의적인 영향력의 존재 여부 판단: 카카오-두나무 사례

When an investor company holds shares in another company (investee), the accounting classification―either the fair value method or the equity method―depends on whether the investor has significant influence over the investee. Furthermore, if the investor obtains control, it must consolidate the investee’s financial statements. Kakao has held a significant shareholding in Dunamu, and the two companies have maintained a long-standing strategic partnership. Kakao applied the equity method to its investment, reflecting its significant influence over Dunamu. As Dunamu’s financial performance improved substantially, Kakao recognized considerable earnings under the equity method from its investee shares. In 2022, however, Kakao reassessed its prior judgment regarding significant influence and concluded that it no longer held such influence, even though its direct shareholding percentage had not changed from the previous year. As a result, Kakao reclassified its investment in Dunamu from ‘investments in associates accounted for using the equity method’ to ‘financial assets measured at fair value through other comprehensive income’. By remeasuring the investment at fair value, Kakao recognized a substantial gain of approximately KRW 1.5 trillion. This study introduces Kakao’s reclassification of its investment in Dunamu and similar cases, and explains the appropriate accounting methods applicable to each situation