“Even though investigations are ongoing into embezzlement and misappropriation by Kakao Entertainment executives, they are still being paid consulting fees… This should be stopped immediately.”,
Kakao Community Labor Union Crew Union held a picket rally in front of the Kakao Entertainment building in Jongno-gu, Seoul on the 8th, regarding irregularities in Kakao Entertainment.
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, “[Digital Daily Wang Jin-hwa Reporter] Kakao’s union demanded the withdrawal of unethical executive consulting agreements and an audit.”,
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, “Jeonguk Chemical Fiber Food Industry Labor Union Kakao Branch (Branch Manager Seo Seung-wook, hereinafter Kakao Union) demanded immediate measures against executives involved in the bid-rigging, embezzlement, and misappropriation related to the acquisition of Barum Pictures by Kakao Entertainment on the 23rd.”,
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, “According to the Kakao Union, former co-CEO of Kakao Entertainment, Kim Sung-soo, is continuing his consulting agreement after resigning. Former Investment Director Lee Jun-ho is still employed by the company. The union demanded the immediate termination of their consulting agreements and dismissal.”,
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, “Last December, the Kakao Union held a protest in front of Kakao Entertainment’s Jonggak office demanding an investigation into various illegal activities by the management and the acquisition and merger unfair transactions, which Barum Pictures was part of. They also demanded that the management take responsibility for ongoing management failures and resign from their positions. “,
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, “The Kakao Union stated, ‘In the end, the suspicions of unfair transactions have been proven true, and on the 22nd, former CEO Kim Sung-soo and former Investment Director Lee Jun-ho were indicted.’ They explained, ‘Despite the operation of the Management Reform Committee within Kakao for nearly a year, internal control over the management has not significantly improved.'”,
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, “Furthermore, they argued, ‘After the listing, Ryu Young-joon, former CEO of Kakao Pay, caused a embezzlement incident, and former CEO Baek Sang-yeop of Kakao Enterprise, who led the company into half of its employees undergoing restructuring due to reckless management, was receiving hefty consulting fees through a consulting agreement. Despite the union’s demand for immediate cessation, there has been no improvement.'”,
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, “Therefore, the Kakao Union plans to urge Kakao to ▲ immediately terminate and dismiss unethical executives involved in legal and social issues ▲ conduct a thorough internal audit that has not been properly carried out on the management team until now, and disclose it publicly.”,
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, “Branch Manager Seo Seung-wook said, ‘In February of this year, the Kakao Union released the results of a survey on management that we wanted, and the first issue that absolutely should not exist, as indicated by respondents, was profit-seeking.’ He added, ‘An overwhelming 55.2% of respondents pointed out issues with profit-seeking.'”,
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, “He further commented, ‘Despite the continuous warning messages from the labor union and demands for management reforms through collective agreements, the company is not engaging in concrete discussions on reform, citing management rights.'”,
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, “The Kakao Union also announced that, apart from the internal audit, they will report suspicions of unfair transactions in mergers and acquisitions and investment execution through the Compliance and Integrity Committee. They emphasized that they will utilize all means to convey the voices of union members against repeated crimes and management disasters that have not changed since the declaration of management reform.”,
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