South Korean internet giant Kakao is currently navigating through a challenging period, facing multiple investigations related to antitrust and securities violations. In response to these circumstances, the company is undergoing a significant leadership change.

Shina Chung, who previously led Kakao’s venture arm, is poised to become the new CEO, marking a notable milestone as the first woman to hold this position at Kakao. This strategic leadership appointment is widely interpreted as a signal that the company is entering a phase of urgent reform to address ongoing challenges and legal scrutiny.

The official transition of Shina Chung into the role of CEO is scheduled to take place after Kakao’s upcoming board and shareholders’ meeting in March. This timing underscores the critical juncture at which Kakao finds itself and the need for a swift response to the current challenges it faces.

Hints of impending changes within Kakao were dropped by the company’s founder, Beom-soo Kim, during an internal meeting. Kim emphasized the necessity for fundamental changes, indicating that Kakao had reached a pivotal moment requiring transformative leadership to guide the company into a new era. This proactive move to establish new leadership reflects Kakao’s commitment to navigating the complexities of its current situation and shaping a path forward.