Little more than a week after announcing that its mobile payment platform, Kakao Pay, has surpassed five million users in the first 12 months, South Korean tech giant Kakao today welcomed a new chief executive.
The company said the decision reflects its intentions to begin a “second chapter” as a mobile lifestyle platform, having only just rebranded from Daum Kakao last week.
It also unveiled a refreshed logo, which it says embodies Kakao’s young and flexible corporate image.
“For the past month or so, I deliberated over how to unfold the future of Kakao as I spent my time trying to fully understand the organization, and communicate extensively with the members of the company,” said Kakao’s new chief executive Ji Hoon Rim.
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“Focusing on the keywords mobile and connection, I will strive to further the global competitiveness of the company by bringing greater speed… [and] I will work to foster a culture that supports the realization of innovative ideas to bring our platform competitiveness to the fullest,” he added.
Rim is understood to have built a solid reputation in venture investments before being offered the top spot at Kakao.
This reference to innovation is something that fellow South Korean tech giant Samsung talked about on Tuesday, in reference to its work with startups. Could this hint at Kakao’s intentions to work more closely with entrepreneurs going forward?
The company’s mobile messaging app, KakaoTalk, is still the most popular among users in its home country, where it claims close to 40 million (plus another 10 million abroad).
Earlier this week, Kakao made changes to its leadership team, and last week, bet on mobile gaming in its bid to return to profitability. KakaoTalk is increasingly coming under threat from global rivals including China’s WeChat, Japan’s Line, Facebook’s WhatsApp, and even Snapchat.
“Kakao, now equipped with a new CEO, name, and identity, will continue to accelerate change and innovation in its key mobile service areas including communication, on-demand services, fintech, IoT, contents, and commerce businesses,” the company concluded.
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