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Kakao Entertainment Nominates New Co-CEOs

The company emphasized “the need for leadership with a new perspective” after a scandal in 2023

But in 2023, Bae Jae-hyun, Kakao’s chief investment officer, was indicted for allegedly manipulating stock price during a corporate battle with HYBE for a controlling stake in K-pop company SM Entertainment. We are excited to accelerate the innovation of our expansive content business to grow as a truly global entertainment player.” Now that Kweon and Chang are nominated as co-CEOs, the announcement noted that they “will undergo a formal appointment process through the board of directors and general shareholders’ meetings.”

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