Kakao Chairman Kim Beom-su Plans to Sell Shares Worth 500 Billion Won

Foundation Established in the First Half of the Year... Ongoing Donation Activities

Chairman Kim Beom-su

[Asia Economy Reporter Tae-min Ryu] Kim Beom-su, chairman of Kakao's board, is planning to sell part of his shares for social contribution.

According to industry sources on the 15th, Chairman Kim is conducting a block deal (off-hours large-volume trade) worth 500 billion KRW of Kakao shares.

A Kakao official stated, "The funds raised through this block deal will be used for continuous donation activities, including the establishment of a foundation in the first half of the year," adding, "Some of the funds will also be used for personal purposes."

Chairman Kim announced in February that he would donate more than half of his assets to solve social issues. Last month, he officially pledged this through the voluntary donation campaign 'The Giving Pledge.'