Kakao CEO Hong Eun-taek “Started the process of selling golf course memberships”

Kakao [035720] has begun the process of selling its recently controversial golf course corporate membership.In a post on the company’s internal bulletin board on the 30th, Kakao CEO Hong Eun-taek made the announcement, emphasizing that the company plans to use the funds to increase the welfare of its employees, including expanding recreational facilities.”The move comes in response to recent concerns raised by Kim Jung-ho, head of management support at Kakao’s CA Council and a member of the compliance and trust committee, about the corporate membership at the golf course.In a post on Facebook on the 28th, Kim accused certain departments within the group of playing golf as many as 12 times a month and of spreading rumors that “if Kakao goes under, it will be because of golf.” The following day, on the 29th, he continued to criticize the same issue, saying that the head of a management department had an ultra-expensive golf course corporate membership worth over 2 billion won.On the other hand, he pointed out that the recreational facilities for employees were so poor that they could go there less than two nights a year.

He said that he reported to Kakao’s founder, Kim Bum-soo, that he was going to sell 75% of the golf memberships outright, and that the last two months have been a war-like conflict.In addition, the issue of external cooperation fees (corporate cards) mentioned by Kim has already been improved and implemented, Hong said.Kakao has also launched an audit of other allegations raised by Kim, including the development process of the Ansan Data Center (IDC), Seoul Arena, and Jeju idle land, with a team of investigators led by the Group Compliance Office and a law firm.”We will thoroughly investigate and transparently share the results,” Mr. Hong emphasized.In addition, Mr. Hong noted that the incident involving Mr. Kim, who verbally abused employees during a meeting, was “a controversial issue within the company, although it is difficult to disclose it publicly due to ethics committee regulations.”For the sake of fairness and objectivity, the Ethics Committee recommended that an external law firm investigate the matter, and we decided to accept it,” he said, adding, “The final judgment will be made by the Ethics Committee based on the results 스포츠토토존 of the investigation by external organizations.”

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