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Kakao chairman donates stocks worth W2b to help fight coronavirus

Kakao founder and Chairman Kim Bum-su
Kakao founder and Chairman Kim Bum-su

Kakao founder and Chairman Kim Beom-su has pledged to donate his stocks worth 2 billion won to help combat the nationwide spread of COVID-19, the firm said Wednesday. The company will also separately match the amount.

Kim has decided to give 1,100 stocks, based on the day’s closing price, amounting to around 1.97 billion won.

Details of where and how the donations will be delivered are yet to be announced.

South Korea’s leading online company has been encouraging relief activities through its platform Together, in which among other methods, funds are raised via emoticon purchases as well as in cooperation with other charitable organizations.

By Shim Woo-hyun (ws@heraldcorp.com)
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