[카카오모빌리티 딜레마]② 반복된 매각 시도·막힌 출구…TPG의 탈출사

TPG's nine-year struggle to exit Kakao Mobility—blocked by regulatory concerns, union opposition, and governance disputes—illustrates a critical PE trap: strategic platform control, not operational performance, determines exit viability in heavily regulated sectors. When a company controls critical infrastructure or consumer data, political resistance can render even highly profitable investments illiquid indefinitely.