KaKao

Kakao held the Compliance Covenant Ceremony, resolving to comply with fair trade-related laws and regulations at the group level. The ceremony was held following the Compliance and Trust Committee's recommendation back in February for Kakao to develop a compliance system.

 

Kakao stated that the compliance covenant ceremony was held in Kakao Pangyo Agit on the 14th, which was attended by Shina Chung (Kakao CEO and co-chair of the Corporate Alignment Council), Soyeong Kim (chair of the Compliance and Trust Committee), Sangwoo Han (CEO of Kakao Games), Geungseon Ryu (CEO of Kakao Mobility), Hoyoung Yoon (CEO of Kakao Bank), Kisu Kweon (co-CEO of Kakao Entertainment), and Wongeun Shin (CEO of Kakao Pay). 

 

SY Kim stated, “The Compliance and Trust Committee will do its utmost to support Kakao to be trusted,” stressing that “Kakao Group will lead and cultivate the fair trade culture starting with this covenant ceremony.” Committee members YJ Kim and YJ Lee also confirmed Kakao Group’s will to practice compliance management and requested to lead the group's ESG management. 

 

The joint covenant contained the following: prevention of violations of the fair trade-related laws and regulations, such as unfair transaction; training and monitoring of employees to internalize the compliance culture; and development of compliance system. At the compliance covenant ceremony, Kakao decided to introduce, for the first time in the Kakao Group, the Compliance Program (CP) to be passed following the amended Fair Trade Act. Other affiliates that attended the compliance covenant ceremony also promised to introduce the related program from the next year in consecutive order. Also, Kakao Group will organize and operate a compliance task force to advance its compliance system.

 

Kakao CEO Shina Chung stated, “Kakao will endeavor to be loved and trusted by the public with fair and transparent corporate culture,” stressing that “I am glad to conduct the joint compliance covenant at the group level as the co-chair of the Corporate Alignment Council.”