Kakao executive slams company in Facebook post
Published: 29 Nov. 2023, 17:00
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- LEE JAE-LIM
- [email protected]
![Kim Jeong-ho [BRIAN IMPACT FOUNDATION]](https://koreajoongangdaily.joins.com/data/photo/2023/11/29/334c45e7-c708-442f-84ce-20c395c69d78.jpg)
Kim Jeong-ho [BRIAN IMPACT FOUNDATION]
Kakao executive Kim Jeong-ho has spoken out on social media about the tech company's internal frictions and opaque decision-making processes. Kim's criticisms add yet more injury to a company already plagued with stock manipulation charges.
Kim currently chairs the Brian Impact Foundation, a private charity created by Kakao founder Kim Beom-su in 2021.
The flash point, according to Kim, occurred on Nov. 22, when he wrangled with Kakao employees over a company decision to choose a third-party builder rather than deploying an internal construction team.
The executive yelled at multiple employees during the argument, using swear words to degrade Kakao's corporate culture.
After local media outlets reported on the altercation on Tuesday, Kim apologized for his behavior via his Facebook account. But the executive remained consistent in criticizing Kakao's obscure decision-making processes.
“It was a one-time mistake that I made as I criticized the company’s management customs,” Kim wrote.
The contentious meeting concerned the construction planned of a digital content production center on Kakao-owned land in Jeju. Kim, per his post, had planned to recruit Jeju-based talent to staff the center and to dedicate a part of it to performances from disabled artists.
Kim suggested that the company hire employees from Kakao Space, a Kakao subsidiary specializing in interior design and branding, to aid with the project, but his colleagues shot down the proposal.
“Another executive told me that there was already another construction company set to work on the center,” Kim said. “I asked whether the team went through the proper procedure to be approved and signed by others, but the executive denied it, just repeatedly saying that the construction company was already decided.
“That is when my rage exploded. Others didn’t say anything, and I could not understand how the company could have been decided without undergoing proper procedure, when that company would work on a project worth some 70 to 80 billion won.”
Kim admitted to using of swear words and said that he will “be fully responsible for his actions.” He claims that he has apologized privately to the meeting's attendees.
The executive took to Facebook again on Wednesday, criticizing more aspects of the company's internal structure including its corporate golf membership.
Kim said that Kakao founder Kim Beom-su asked him to discontinue said corporate golf membership program, which employees customarily used to entertain company guests. Kim is said to have asked the founder to give up his membership as well, which he obliged.
“It [the company] was full of rumors that if Kakao is ruined one day, it is because of golf, and that golf courses on Friday were brimming with Kakao employees,” Kim wrote.
“Upon investigation, only certain departments were habitually abusing the membership, going to golf courses 12 times a month.”
Kim decided to sell 75 percent of the memberships and for the recouped funds to be redirected to support employees’ welfare facilities.
“It was like declaring war when the decision was announced,” Kim said. “There was severe backlash from employees for about two months about the need to play golf.”
Kim also heads management support for Kakao’s Compliance and Trust Committee, an external monitoring body formed in 2022. Kim’s role involves investigating allegations related to Kakao’s compliance, personnel and finances.
Meanwhile, Kakao is undergoing internal inspections to address allegations of corruption in the selection of construction companies for its data center and projects regarding its cultural complexes.
BY LEE JAE-LIM [[email protected]]
with the Korea JoongAng Daily
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