Kakao Finance Executive Charged 100 Million KRW on Company Card for Game Items... 3-Month Suspension

A financial executive at Kakao was suspended for three months after charging approximately 100 million KRW worth of game items to a corporate card.

The Kakao Standing Ethics Committee announced the disciplinary review results regarding the case within the company on the 1st of this month. A report was received that the financial executive used the corporate card for game item purchases, which was deemed inappropriate for its intended purpose, and upon verification, it was determined that ethical regulations had been violated.

Kakao Pangyo Agit, Seongnam, Gyeonggi. Photo by Jinhyung Kang aymsdream@

Vice President A was excluded from work duties and received a three-month suspension. While the game purchases themselves were not problematic, the excessive amount spent was the reason for the disciplinary action. A Kakao representative stated, "The amount has been recovered, and this incident will serve as an opportunity to establish and implement clearer regulations regarding usage and limits."

Vice President A worked as the Head of Financial Planning at Kakao in 2015, then served as Chief Financial Officer (CFO) at Kakao Commerce, a subsidiary, in 2018. In 2019, he worked as CFO of Kakao Games and led the company’s initial public offering (IPO). In February of last year, he returned to Kakao to take charge of the finance group.