Kakao Pay’s board on Thursday approved an agenda item to reappoint CEO Shin Won-geun, the company said.
His reappointment will be finalized at the company’s annual shareholders meeting scheduled for late March.
The board said Shin improved the company’s fundamentals through responsible management and a strategic expansion of its platform business, delivering both top-line growth and stronger profitability and completing a turnaround.
Kakao Pay posted its first annual profit last year on a consolidated basis. Subsidiaries also showed clearer results: Kakao Pay Securities recorded its first annual profit since its launch, and Kakao Pay Insurance has continued to grow as revenue rises rapidly.
Shin joined Kakao Pay in February 2018 as executive vice president and chief strategy officer, where he set growth strategies for its consumer finance platform. He was appointed CEO in March 2022 and won one reappointment in March 2024. With Thursday’s board vote, he will proceed with the process for another term.
* This article has been translated by AI.
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