Kakao CEO Jeong Shin-ah, whose term expires in March, is expected to lead the company for another two years.
Kakao announced on the 11th that its board of directors approved a resolution to reappoint CEO Jeong for a two-year term. The resolution will be finalized at the annual shareholders' meeting scheduled for the 26th of next month.
CEO Jeong, who took office in March 2024, has a term ending at the end of next month. The reappointment is expected to pass the shareholders' meeting without difficulty, as Kakao's 2024 performance is projected to reach an all-time high.
CEO Jeong has been credited with achieving both stability and growth after taking the helm amid a group crisis, including legal risks involving the founder. Shortly after her appointment, she restructured governance to avoid indiscriminate expansion and focus on core competencies. As a result, the number of affiliates decreased by nearly 30%, from 132 to 94.
CEO Jeong also purchased 400 million won worth of company shares through open market transactions on four occasions since 2024 as part of responsible management. She has kept her promise not to sell them during her tenure. She also held Kakao's first overseas investor relations sessions where the CEO directly met with foreign investors since the company's founding.
Quantitative growth during her tenure has been notable. Kakao posted record results in both the second and third quarters of last year. In the third quarter, the company recorded consolidated revenue of 2.0866 trillion won and operating profit of 208 billion won, breaking the 200 billion won operating profit mark for the first time.
CEO Jeong is expected to focus on strengthening artificial intelligence capabilities in her second term. Kakao aims to reshape daily life once again through AI that naturally integrates into users' lives, understands context, and completes actions according to user intent. The company is evolving toward Agentic AI that goes beyond executing single commands to understand user intent and context and respond flexibly to situations. Kakao added "artificial intelligence development and utilization" to its business purposes in its disclosure on the same day.
Kakao is scheduled to announce its fourth-quarter and full-year 2024 results on the 12th. Securities analysts estimate Kakao achieved consolidated revenue of 8.0887 trillion won and operating profit of 683.4 billion won last year.