Kim Beom-su, founder of Kakao, is stepping down as co-chair of the Corporate Alignment (CA) Council due to health concerns, leaving CEO Chung Shin-a as the sole chair.

The CA Council, established in January 2024, oversees Kakao’s strategic direction, including streamlining operations and handling legal challenges.

Despite his resignation, Kim will continue leading Kakao’s Future Initiative Center, focusing on long-term strategies.

His departure comes amid an ongoing legal investigation into his alleged stock price manipulation during Kakao’s acquisition of SM Entertainment. He was arrested in July 2024 and released on bail in October.

Meanwhile, Kakao has wrapped up its management overhaul committee’s work, shifting reform efforts to internal teams.

Additionally, Kakao plans to spin off its web portal unit, Daum, into a standalone company to enable more agile decision-making.

Recent Kakao developments