[Alpha Biz=(Chicago) Reporter Paul Lee] Kakao creates a compliance management control system. Consider accepting external control for compliance management.

Kim Beom-soo, founder of Kakao and head of the Future Initiative Center, held a community management meeting on the 30th with some CEO 20s from major communities, including Kakao CEO Hong Eun-taek. It was a place to check the impact of recent issues on management as a whole.

Kim, head of the center, expressed his willingness to reflect on the controversy over SM Entertainment's manipulation of market prices and strengthen compliance management.

At the meeting, Kakao executives recognized the current situation as the highest emergency management stage and discussed the direction of change to reshape Kakao's management system itself. They also discussed intensively investigating the cause of the recent problem and accepting future external control for compliance monitoring. It also included a plan to receive an external assessment of social impact when carrying out new businesses or large-scale investments.

Kakao plans to first set up an organization to check the compliance management status of each community and have a management system that meets social standards. If Kakao Group's compliance management is monitored by outside experts, it is expected to be similar to the Samsung Compliance Monitoring Committee, Samsung's independent external monitoring body, which was created in 2020.

Kakao will hold a community management meeting every Monday to discuss concrete action plans.

 

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