[2021 National Audit] Kakao's Kim Beom-su: "No Infringement on Local Businesses... Focus on Global and Future Technologies"

Chairman Kim Beom-su of Kakao is attending the National Assembly's inspection of the Fair Trade Commission held by the National Assembly's Political Affairs Committee on the 5th. Photo by Yoon Dong-ju doso7@

[Asia Economy Reporters Kang Nahum and Boo Aeri] Kim Beom-su, Chairman of the Kakao Board of Directors, stated on the 5th regarding Kakao's future business direction, "We will reorganize what needs to be reorganized and strive to focus on innovation in global and future technologies."

At the National Assembly's Political Affairs Committee hearing where Kim appeared as a witness, he responded to a question from Hong Seong-guk, a member of the Democratic Party of Korea, asking "Is Kakao's current business model legitimate?" by saying, "The responsibility to distinguish what Kakao should and should not do has truly increased."

When Democratic Party member Kim Byung-wook pointed out, "Kakao has worked hard to strengthen its market dominance, but its overseas global expansion is very weak," Kim said, "In the webtoon sector, we are already number one in Japan, and like Naver, we are aggressively acquiring companies and expanding in North America."

When Kim asked for a public message regarding measures to revitalize the platform ecosystem, Kim Beom-su said, "I think platforms have both bright and dark images. The bright side is that even without capital, connections, or technical knowledge, there is an opportunity to participate in the market." He added, "Kakao will never enter industries that infringe on small local businesses by leveraging technology and will definitely withdraw from such areas. We will actively seek ways to support small local businesses."

He continued, "This is the goal pursued by all Kakao communities," and said, "Some progress has already been made, and we will accelerate going forward."

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