Kakao founder establishes charity to foster startups
[THE INVESTOR] The founder of Korea’s top mobile messenger operator Kakao Corp. has established a foundation that will engage in various activities to contribute to the well-being of society, the company said on April 16.
Kakao said a total of 4 billion won (US$3.73 million) was invested in the charity named “Kakao Impact.” The investment was jointly made with Kakao and Kakao M, an entertainment affiliate.
Kim Beom-su, the founder of Kakao, will head the new charity.
The company said it is seeking to invite more affiliates to join the movement. The IT company said it is currently contemplating details of how the charity should be operated.
As Kakao emerged from a startup to become a major IT giant, industry watchers expect the charity will focus on finding ways to utilize various ideas to contribute to society.
By Song Seung-hyun and newswires (firstname.lastname@example.org)