Kakao Pay Appoints Shin Won-geun as New CEO

CEO Ryu Young-jun Appointed as Co-CEO of Kakao

[Asia Economy Reporter Kiho Sung] Kakao Pay announced on the 25th that Shin Won-geun, the current Chief Strategy Officer (CSO), has been appointed as the new CEO.

Appointed CEO Shin Won-geun joined Kakao Pay in February 2018 as the Chief Strategy Officer and established mid- to long-term business growth strategies. Based on insights into changes in the domestic and international financial ecosystems, he developed business models and has driven Kakao Pay's sustainable growth by overseeing corporate investments, partnership alliances, and external communications.

In particular, he led cooperation between Kakao Pay and overseas fintech partners, laying the groundwork for global expansion, while also spearheading the establishment of subsidiaries in investment and insurance sectors through strategic M&A. With this new CEO appointment, Kakao Pay plans to further strengthen its strategies for global market expansion and financial business growth, which will be key drivers of future growth.

Meanwhile, with Ryu Young-joon, who has led Kakao Pay until now, being appointed as co-CEO of Kakao, Kakao Pay's platform competitiveness is expected to increase significantly. Synergies with KakaoTalk as well as community services are anticipated to expand more closely and in diverse forms.

Appointed CEO Shin Won-geun stated, “I feel a heavy responsibility in taking on the role of representing the company at this critical time as we prepare for a quantum leap through the KOSPI listing,” adding, “Following the growth strategies demonstrated during the listing preparations, I will ensure that the ongoing business plans are carried out smoothly and realize the vision of improving the financial lives of all citizens.”

The new CEO is scheduled to be officially appointed after the regular shareholders' meeting and board of directors meeting planned for March next year.

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