Kakao CEO Jung Shina Purchases Additional KRW 100 Million in Company Shares: "For Responsible Management"

CFO Shin Jonghwan Also Purchases Company Shares Worth 50 Million KRW
"No Plans to Sell Shares During Tenure"

Jung Shina, CEO of Kakao, has made her fourth purchase of company shares since taking office. This move is intended to demonstrate her commitment to responsible management as the head of Kakao.

According to the Financial Supervisory Service's electronic disclosure system (DART), CEO Jung disclosed on this day that she had purchased an additional 1,628 shares of Kakao. The total value of this purchase is approximately 104.4 million KRW.

Junsung A, CEO of Kakao. Photo by Kakao

As a result, CEO Jung now holds a total of 9,125 Kakao shares. Specifically, on this day, she acquired 827 Kakao shares at 63,700 KRW per share and 801 Kakao shares at 64,600 KRW per share.

This marks CEO Jung's fourth purchase of company shares. Since expressing her commitment to responsible management and enhancing shareholder value through a shareholder letter in May of last year, she has continued to purchase company shares, each time totaling around 100 million KRW.

In her letter at the time, CEO Jung stated, "I will not sell my shares while serving as CEO, and I intend to align my interests with those of our shareholders," adding, "To increase market trust, I will strengthen transparency in decision-making and firmly establish responsible, shareholder-centered management."

On the same day, Shin Jonghwan, Chief Financial Officer (CFO) of Kakao, also disclosed that he had purchased 780 Kakao shares. The value of CFO Shin's recent purchase is approximately 50 million KRW, increasing his total Kakao shareholdings to 3,360 shares.

Kakao explained that CFO Shin also purchased shares to demonstrate his confidence in improved performance in the second half of the year and to reinforce responsible management.

A Kakao representative stated, "CEO Jung and CFO Shin do not plan to sell their shares during their tenure," adding, "Kakao will continue to work toward creating an environment that encourages executives to purchase Kakao shares."