Park Jae-hyuk is a seasoned journalist who has provided comprehensive coverage of South Korea's corporate dynamics, economic policies, industry challenges and the global positioning of Korean companies. Based on the articles he has written since joining The Korea Times in 2016, his investigative approach has helped readers understand corporate governance, economic trends and business strategies shaping South Korea’s economy.
Kakao nominates female CEO
Kakao CEO nominee Chung Shin-a / Courtesy of Kakao
By Park Jae-hyuk
Kakao Ventures CEO Chung Shin-a was nominated on Wednesday as the new CEO of Kakao. She will start leading the IT firm after a board meeting and a general meeting of shareholders in March next year.
This is the first time a woman will lead the company.
After working for Boston Consulting Group, eBay and Naver, the 48-year-old nominee joined Kakao’s venture capital unit in 2014 and began to lead the firm in 2018. Earlier this year, she joined Kakao’s board of directors.
“As I took over the leadership at this critical juncture, I feel great responsibility and a sense of duty,” Chung said. “To satisfy the public's expectations, I will carry out responsible management and focus more on core businesses for the future. Kakao has no time to spare, so I will not miss the timing for change.”
Kakao explained her nomination forms part of the company’s reform drive, which the IT firm has accelerated amid multiple legal issues involving the founder and other executives.
On Monday, Kakao founder Kim Beom-su told employees that the company needs a fundamental change, saying that he is even prepared to change its name if necessary.