KaKao

- Kakao CEO meets with Kakao Mobility and Kakao Pay CEOs, expressing willingness for collaboration on reforms

- Launch of the Compliance and Trust Committee website and establishment of measures for whistleblower protection

 

[February 6, 2024] The Kakao Compliance and Trust Committee (“KCTC”), an independent organization supporting compliance and ethical management for Kakao’s partner companies, announced that it has decided to actively collaborate with the representatives of these partner companies for the renewal of both Kakao and partners.

 

 ❏ KCTC holds its first official meeting with Kakao CEO Shina Chung among others

 

On the 2nd, KCTC members, including Chair Kim So-yeong, met with Kakao CEO Shina Chung, Kakao Mobility CEO Ryu Geung-seon, and Kakao Pay CEO Shin Won-geun. This is the first time KCTC has officially met with representatives from Kakao and partner companies.

 

The meeting was held to directly hear from the representatives of the three partner companies about their key issues and the areas where they needed support from KCTC. KCTC members inquired about the operational conditions and compliance status of the three partner companies, and they assessed each company’s commitment to adhering to their agreements. In particular, they exchanged opinions on each company’s issue response plans and strategies for strengthening internal controls.

 

Kakao CEO Shina Chung stated, “We plan to tackle the issues Kakao is facing one by one with a fresh perspective and strengthen responsible management. We will communicate with KCTC to seek their opinions and advice in order to regain public trust.” Kakao Mobility CEO Ryu Geung-seon expressed, “We will strive to better accommodate the perspectives of ecosystem members, including providers and users,” adding, “We will align our direction with KCTC to resolve these issues.” Kakao Pay CEO Shin Won-geun also mentioned, “Since taking office as representative in 2021, I have been working to stabilize the company by communicating with employees,” adding, “I will take the advice of KCTC to create a structure that grows alongside society.”

 

KCTC Chair Kim So-yeong stated, “Through my meeting with Kakao employees, I felt their passion and deep affection for the company, and I was able to view the future of Kakao positively.” She added, “KCTC will also continue to work hard to find ways for Kakao to change.”

 

❏ Launch of official website and establishment of measures for whistleblower protection

 

KCTC also launched an official website to publicize its activities and receive reports. The website consists of sections introducing the role of KCTC, profiles of the chair and committee members, a news bulletin board, and a reporting section. The news bulletin board will feature updates on the committee’s activities and press releases, while reports will continue to be accepted through the email provided in the reporting section. 

 

* KCTC official website: https://www.kakaocompliance.com

 

In particular, KCTC has established various measures to protect whistleblowers. Information related to whistleblowers will never be disclosed externally without their consent, and anonymous submissions are also possible. According to the operating regulations established with KCTC, partner companies are prohibited from attempting to identify whistleblowers and must not impose any disadvantages on them. KCTC can implement additional measures to further protect whistleblowers. KCTC has informed the partner companies of these whistleblower protection policies and plans to conduct activities such as investigation requests once reports are received in the future.

 

Chair Kim So-yeong stated in her message on the website, “The activities of KCTC may sometimes be inconvenient and, at times, painful.” She added, “However, I believe that if we do not give up and continue to walk together, we will see a transformed Kakao at the end.” She further stated, “The committee will keep an open ear to all comments, whether they are words of encouragement, advice, or criticism.” [End]