Kakao founder apologizes for disputes over aggressive biz control

This file photo programs its founder Kim Beom-su. (Kakao Corp. )

Ellie Beom-su, the founder connected with South Korean internet big Kakao Corp., apologized Thursday over the controversy surrounding you’re able to send rapid expansion in recent years, which ones some criticize has enthusiastic small businesses into a corner.

Kakao has faced development scrutiny from lawmakers to regulators in recent months over the far-reaching influence of its online engine that has been accused of shooting business away from mom-and-pop takes up.

“I current sorry for having caused this controversy, ” Kim celebrity fad during a parliamentary audit by means of National Policy Committee.

Last month, Kakao thought it would scrap some of it has the services that compete with tiny merchants, such as flower situation, and promised to create a 400 billion won ($253 million) fund to support small businesses.

The Kakao originator has faced even more overview over K Cube Rapprochement, his wholly owned cost company and the de facto holding company of Kakao.

The Korea Fair Trade Commission is currently looking into Kakao for presumably omitting or fabricating sent in documents on K Cube Holdings.

“So that K Cube Groupement no longer faces controversy, preparations are being made so that it is not a family-controlled company just a company that fulfills dwelling social responsibility, ” Kim said, adding he will speed up the transition process.

As part of last month’s pledge, Kakao said Ok Cube Holdings would be reshaped to focus on social issues, eg education. (Yonhap)

Kakao founder apologizes for disputes over aggressive biz control
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