Asia Tech Wire (July 17) -- South Korean tech giant Kakao Corp. is considering selling its gaming and entertainment business, according to the Dong-A Ilbo.

Industry insiders have seen Kakao's move as a way to focus on its more competitive communications and financial services.

The Korean company has yet to determine whether it will eventually sell these assets, but has begun to reach out to potential investors.

As one of the largest mobile app developers in South Korea, Kakao has a strong presence in the video game sector and owns several IPs of popular mobile games.

However, it seems that the company has decided to focus on its core business in the face of fierce competition and the pressure of market changes.