Hong Eun-taek, Kakao CEO, "Forming Investigation Team to Start Audit on Various Allegations"

Hong Eun-taek, Co-CEO of Kakao
[Photo by Yonhap News]

Hong Eun-taek, CEO of Kakao, recently informed employees that “an investigation team has been formed and an audit has begun” regarding various allegations including misconduct by Kakao's management.

On the 30th, CEO Hong posted an internal notice titled "Hello? This is Simon (CEO Hong Eun-taek's nickname)."

He stated, "First, regarding the construction processes of the Ansan Data Center, Seoul Arena, Jeju ESG Center, and other allegations raised by Brandon (Kim Jeong-ho, Kakao CA Council Support General Manager's nickname), an investigation team has been formed centered around the Community Compliance Management Office and a law firm, and an audit has commenced," adding, "We will conduct a thorough investigation and transparently share the results."

CEO Hong also said, "Regarding the golf course memberships, the sales process has already begun, and the recovered funds will be used to expand recreational facilities and improve the welfare of the crew," and "The issues with external cooperation expenses have already been addressed with improvement plans implemented."

He further mentioned, "Although it is difficult to disclose publicly due to the Ethics Committee regulations, the Ethics Committee has recommended requesting an investigation by an external law firm for matters causing controversy within the company to ensure fairness and objectivity, and we have agreed to this," adding, "The final judgment will be made by the Ethics Committee based on the results of investigations by external organizations."

Finally, CEO Hong requested, "Please wait until the investigation results are released," and asked, "I hope there will be no premature discussions or assumptions about the audit or investigation results in the meantime."

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