Kakao Grants 10 Company Shares to All Former and Current Employees Worth Approximately 4.55 Million KRW

[Asia Economy Reporter Kang Nahum] Kakao will provide its employees with company stock bonuses worth approximately 4.55 million KRW. This is the first time since the company's founding that stock bonuses have been given.

On the 8th, Kakao announced that it had decided to dispose of 26,190 shares of its own stock through off-market transactions to pay bonuses to employees. The expected disposal amount is 11.91645 billion KRW, and the disposal period is from the 9th to March 8th.

Additionally, Kakao internally notified that it will grant 10 shares of company stock as bonuses to all employees. The acquisition price per share is 455,000 KRW, totaling about 4.55 million KRW. The number of eligible employees is 2,619. Unlike stock options, these stock bonuses can be disposed of immediately. Cash bonuses will be paid separately.

Kakao stated, "This reflects the fact that all employees actively cooperated and made efforts to overcome the unexpected difficulties caused by COVID-19 and achieved the goals planned for 2020. It also expresses the hope that all employees will look in the same direction and work together in line with the company's continuous growth."

Industry analysts estimate that Kakao's sales last year increased by more than 1 trillion KRW compared to the previous year, surpassing 4 trillion KRW, and operating profit more than doubled to reach 450 billion KRW, marking the best performance in the company's history.

This content was produced with the assistance of AI translation services.