SEOUL, Kakao Games Corp., the gaming unit of South Korean tech giant Kakao Corp., said Wednesday its net profit shrank over 91 percent due to increased corporate taxes. Its net profit stood at 380 million won (US$293,599) in the January-March period, down 91.1 percent from 4.2 billion won a year ago, the company said in a regulatory filing. Its operating profit rose 8.1 percent on-year to 12.3 billion won, while its sales dropped 1.2 percent to 246.3 billion won. The company said its revenue from mobile games increased 4.8 percent on-year to 161.3 billion won thanks to the stable performance of its massively multiplayer online role-playing game title "Odin: Valhalla Rising" and the release of its new title "R.O.M." Sales from PC games also climbed 10.5 percent to 15.6 billion won, with new content for "Pubg: Battlegrounds" and a domestic update of "ArcheAge War," but sales from other businesses unrelated to games retreated 14.5 percent to 69.4 billion won, the company explained. Kakao Games said it will focus on releasing new global titles, beginning in the second quarter, including a K-pop mobile game, "SM Game Station." "We will work to secure intellectual properties for global PC and console games to strengthen our capabilities in the competitive game market," CEO Han Sang-woo said.