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Kakao founder establishes charity to foster start-ups

2018/04/16 11:59

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SEOUL, April 16 (Yonhap) -- The founder of South Korea's top mobile messenger operator Kakao Corp. established a foundation that will engage in various activities to contribute to the well-being of society, the company said Monday.

Kakao said a total of 4 billion won (US$3.73 million) was invested in the charity named "Kakao Impact." The investment was jointly made with Kakao and Kakao M, an entertainment affiliate.

Kim Beom-su, the founder of Kakao, will head the new charity.

The company said it is seeking to invite more affiliates to join the movement. The IT company said it is currently contemplating details of how the charity should be operated.

As Kakao emerged from a start-up to become a major IT giant, industry watchers expect the charity will focus on finding ways to utilize various ideas to contribute to society.