Kakao Games extends $5.8M long-term loan to Meta Bora

South Korean gaming company Kakao Games has provided an 8 billion won ($5.8 million) long-term loan to subsidiary Meta Bora, which has remained in a state of full capital impairment for more than three years, IBTOMATO reported. The report said the funding appears to be aimed more at refinancing existing borrowings from financial institutions into debt owed to the parent company than at investing in new businesses, suggesting Meta Bora has yet to generate enough cash from its own operations to repay existing loans.