Kakao's Hong Eun-taek: "Not Kim Beom-su's Right-hand Man... Will Focus on ESG Management"

[Asia Economy Reporter Kang Nahum] "The Kakao community aims to become a deeply rooted tree and a spring of deep water in this society."

Hong Euntaek, the newly appointed co-CEO of Kakao, shared his thoughts on his appointment. He expressed his determination to assist CEO Namgoong Hoon in focusing on ESG (Environmental, Social, and Governance) management and to restore Kakao’s trust among the public.

On the 16th, Hong posted on his social media, "I plan to support CEO Namgoong Hoon, who is good at understanding customers’ minds and is creative and flexible, so that he can fully leverage his strengths," adding, "Namgoong CEO is responsible for Kakao, and I am responsible for ESG management of the Kakao community, including subsidiaries. That is why we have a co-CEO system."

Hong described his journey from the moment he entered the industry until now as a "veteran’s survival struggle." When he joined NHN (now Naver), the average age of executives was in the early 30s, but Hong was already 44. He said, "In 2006, NHN CEO Choi Hwiyoung came to me several times asking me to work together, and I reluctantly stepped into a new world. It has been 16 years since then. I think the reason for recruiting me was that an older person was needed to stabilize a spirited company."

He continued, "I left Naver at fifty, cycled around the Chinese Central Plains, and then joined Kakao, and it has been 10 years, but I am still a veteran," adding, "A veteran is not someone who stands out but someone who quietly supports young people so they can shine."

Regarding the perception that he is the "right-hand man" of Kim Beom-su, Kakao’s founder and head of the Future Initiative Center, Hong drew a clear line. He said, "Many articles mentioning me describe me as the 'right-hand man' of Kim Beom-su since my NHN (now Naver) days. However, I never met the founder during my NHN days, and I was recommended by others when I joined Kakao. I am not a right-hand man even now."

He added, "I think there is no right-hand man in this company," and "Founder Kim values people who make independent decisions different from his own thoughts." He also said, "Although I tend to be assertive, I think that is why people with strong opinions, including myself, can stay in this company for a long time."

He also mentioned his connection with Naver CEO Choi Sooyeon. Hong said, "I remember when I recently met CEO Choi Sooyeon, she came to say goodbye because she was quitting to prepare for law school when she was a regular employee," adding, "She said it seemed polite to greet the company’s elders, and I thought to myself, ‘That elder sure has a long life,’ which made me self-conscious."

Meanwhile, Kakao held a board meeting on the 14th and appointed Hong, head of the Community Alignment Center (CAC), as co-CEO. This came four months after the start of the sole CEO system under Namgoong Hoon. Hong worked as a reporter for Dong-A Ilbo and OhmyNews before moving to NHN in 2006. He joined Kakao in 2012 and served as CEO of Kakao Makers and Kakao Commerce.

Industry insiders see this as a move to reduce the burden on CEO Namgoong, who has been struggling with ongoing risks both inside and outside the company. Since Namgoong’s appointment, Kakao has faced various challenges, including dissatisfaction with the new work system, conflicts with Google over in-app payments, and internal opposition to the proposed sale of Kakao Mobility. The leadership restructuring is interpreted as entrusting risk management and social responsibility issues to the new CEO Hong to alleviate Namgoong’s burden.

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