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[Alpha Biz=(Chicago) Reporter Kim Jisun] Former CEO Ryu Young-joon and Kakao Pay's management sold their shares in large quantities in 2021 due to large earned income taxes and capital gains taxes, according to the analysis.
According to a paper titled "Kakao Pay Management's Stock Option Exercise and Stock Sale Cases" published in the accounting journal on the 20th, Kakao Pay's management earned 62 billion won from the exercise of 440,000 shares of the stock option (stock option) and is required to pay up to 30.7 billion won in earned income tax. Under the Income Tax Act, the profit from the exercise of stock options (the closing price of the exercise claim date-exercise price) is considered earned income and is subject to a comprehensive income tax rate of up to 49.5%.
However, this is a purchase of the company's shares at a set price (5,000 won for Kakao Pay), and 62 billion won is close to "unrealized profit." There is no cash in hand until the stock is sold, and stock prices may fall in the future, resulting in losses in disposal. Nevertheless, income tax is imposed at the time of stock option exercise. In the case of former CEO Ryu, the earned income tax from the exercise of stock options is estimated at 16 billion won.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
