ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Telecommunication

Kakao CEO Namkoong resigns in aftermath of service outage

Company's perceived bungling after data center fire drew public, government ire

South Korean internet giant Kakao said on Oct. 19 that Namkoong Whon, one of its two CEOs, has stepped down. (Source photos by Getty Images and Yuki Kohara)

SEOUL -- Namkoong Whon, one of South Korean internet giant Kakao's two CEOs, resigned on Wednesday as the company faced harsh criticism from the government and the public over the handling of a fire at a data center over the weekend that caused a massive service outage and led investors to dump shares.

The company, in a filing with the stock market, said that Hong Eun-taek will be Kakao's sole CEO, as Namkoong has stepped down. Namkoong was in charge of the company's business, while Hong has been focusing on environmental, social and governance issues.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more