Kim Beom-su, the founder of Kakao Corp., is resigning from his position as co-chair of the company’s top decision-making body for health reasons, the company announced Thursday.
Local reports said that the 58-year-old who launched the now-ubiquitous messenger app KakaoTalk in 2010 has been diagnosed with early-stage bladder cancer.
According to Kakao Corp., Kakao CEO Chung Shin-a will serve as the sole chair of the company's Corporate Alignment Council. Kim, however, will remain part of the company, leading Future Initiative Center to guide the company’s long-term strategy and objectives, it said.
"With CEO Chung already leading key company initiatives, Kim's departure is expected to have minimal impact on Kakao's overall management," an official said.
The Kakao founder is currently on trial for alleged stock price manipulation related to Kakao Entertainment's acquisition of SM Entertainment, with allegations that he interfered with a competitor's public tender offer.
cjh@heraldcorp.com
