Kakao Establishes 10 Billion KRW 'Mobility Workers Win-Win Fund'

[Asia Economy Reporter Yuri Choi] Kakao is establishing a fund totaling 10 billion KRW to promote coexistence with mobility platform workers.

Kakao's corporate foundation Kakao Impact and Kakao Mobility announced on the 7th that they have created the 'Mobility Worker Coexistence Fund' and donated 2.2 billion KRW to the Hope Bridge Korea Disaster Relief Association (hereafter Hope Bridge).

In April, Kakao announced a sustainable growth plan in collaboration with society by utilizing a total of 300 billion KRW in coexistence funds over five years. This Mobility Worker Coexistence Fund is part of that sustainable growth plan. Kakao plans to raise 10 billion KRW over five years to support mobility platform workers such as taxi drivers and designated driver service drivers who have experienced illness or accidents.

This year, the fund will support taxi drivers facing difficulties due to aftereffects or illnesses not covered by insurance. Kakao Impact and Kakao Mobility will form an advisory committee with Hope Bridge to finalize the fund support criteria, begin accepting applications in the fourth quarter, and continuously expand the scope and recipients of support.

Hong Eun-taek, co-CEO of Kakao, said, “Due to the nature of the industry, mobility workers are exposed to greater risks, and we want to listen to their voices and continue to expand coexistence and cooperation.” He added, “Since platform workers do not use only one platform, we hope that Kakao’s fund initiative will lead to support from more platform companies and the public sector.”

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