Growing pains of Korea's leading internet firms
Kakao plagued by bullying; Toss suffering high turnover rateBy Kim Bo-eunKorea's leading internet companies have drawn attention and investments from around the world with their leading technology and rapid growth. Firms such as internet giant Kakao and fintech platform Toss are also noted for their progressive working cultures, but the companies have recently been showing signs of internal conflict and difficulty in retaining staff.Industry observers say this illustrates that these firms, which are seen to have modeled themselves after their Western peers such as Google and Amazon, are undergoing “growing pains,” with Korean employees failing to fully embrace an innovative, horizontal corporate culture.Kakao, driven by the success of mobile messenger Kakao Talk, has grown into a big tech firm with numerous acquisitions. The company has consistently been picked by college students as the most desirable employer, with one of the major factors being its organizational culture. Kakao has been defined by its horizontal and flexible work system, as well as its emphasis on inno
