Kakao found yields his last executive title as Brian Impact Foundation board chair

Kim Beom-su, founder of South Korea’s dominant platform operator Kakao Corp., has stepped down from its last executive title by yielding chairmanship of the Brian Impact Foundation he founded last year.

He will remain as a registered director to continue to provide support to the charity foundation.

Brian Impact Foundation, named after Kim’s English name, said Friday that Kim has resigned to yield the board chair to Kim Jeong-ho, chief executive of Bear.Better.

The Kakao founder will attend bi-weekly meetings as registered director and continue to provide support to foundation activities.

Kim has resigned from all of his chief positions as chair of the Kakao board and Kakao Impact Foundation board. In February last year, Kim pledged to donate more than half of his personal assets to society and founded Brian Impact Foundation in June.

The newly appointed board chair Kim is one of the co-founders of internet giant Naver. He held roles as chief of NHN Hangame and NHN China and set up social enterprise Bear.Better. in June 2012 to support sustainable employment and social advancement of people with developmental disabilities.

“I am undertaking as board chair as I deeply empathize with former chair Kim and Brian Impact Foundation’s beliefs that technology helps people to create a better world,” Kim said.

Kim will double the role as Bear.Better CEO and Brian Impact Foundation board chair upon gaining Fair Trade Commission approval for independent management. The position at the foundation comes without pay and other benefits such as stocks, corporate card, vehicle, and secretary.

In March, Brian Impact Foundation announced Impact Ground projects that support innovation organizations that contribute to resolving social issues. The foundation provides 10 billion won ($7.9 million) in project funds to six organizations including Korean Women’s Environmental Network and The Blue Tree Foundation.

[ⓒ Maeil Business Newspaper & mk.co.kr, All rights reserved]