Value context and insight. lkm@koreatimes.co.kr
Ex-Kakao CEO stresses value of community for young people
Rim Ji-hoon / Courtesy of Jihoon Rim Foundation
By Lee Kyung-min
Rim Ji-hoon, former CEO of Kakao and founder of the Jihoon Rim Foundation, said he is glad to enrich communities through scholarships it offers to undergraduate students.
The foundation plans to double the scholarship amount to $10,000 (13.9 million won) per student next year from the current $5,000.
The scholarship seeks to offer a transformative opportunity for exceptional undergraduate students of Korean heritage. Each year, the foundation selects 20 outstanding students.
An annual reunion is held with the recipients to connect them through regional gatherings in cities like New York, Boston and Washington, D.C.
“These events create a durable support system for peer mentorship and collaboration,” Rim wrote on his Facebook page.
On Sept. 16, Rim hosted a networking event in New York with scholarship recipients.
“More than 30 students came to have a meaningful time together. It was incredibly rewarding to see students from different universities gathered in one place, connecting and exchanging ideas. At that moment, I felt proud to see the strong, supportive network I had envisioned starting to take real shape,” he said.
He said he was deeply moved by the thought that in 10 years, hundreds of scholarship recipients will offer each other support and strength, a source of great joy for him.
“I wish students nothing but the best. Seeing our recipients come together for our most recent reunion affirmed what matters most: a community that looks out for one another. I’m grateful we can expand the scholarship to help the community grow even stronger.”
Rim is a professor at New York University Stern School of Business, where he teaches technology and entrepreneurship. He previously served as CEO of Kakao and advises the U.S. Federal Trade Commission on technology antitrust matters.
Since its launch in 2023, the scholarship program has supported students by not only providing financial aid but also a powerful community network.
The program seeks to strengthen the power of community and mentorship. Recipients gain insights from Rim and form a powerful peer-to-peer network with fellow recipients, including a series of gatherings designed to help recipients form lasting connections and friendships.