Kakao Bank has appointed Kim Geon-soo as its new Deputy CEO, following approval at the company’s annual general meeting held on Thursday. Shareholders also approved a significant cash dividend of 219.2 billion won ($145.5 million).
Kim Geon-soo’s appointment brings experience from Korea Investment & Securities, the second-largest shareholder in Kakao Bank. Both Kakao and Korea Investment & Securities hold significant stakes in the online bank, with Kakao holding a slightly larger share at 27.16 percent plus one share.
Prior to joining Kakao Bank, Kim held key leadership positions at Korea Investment & Securities, including roles in product strategy, wealth management strategy, and head of management administration at its parent company, Korea Investment Holdings.
Korea Investment & Securities has been a coinvestor since Kakao Bank’s launch in 2017 and has consistently held a presence through the Deputy CEO role. The previous Deputy CEO, Kim Kwang-ok, has returned to Korea Investment & Securities to lead its investment banking group earlier this year.
The approved cash dividend amounted to 219.2 billion won, translating to a year-end dividend of 460 won per share. This represents a substantial 28 percent increase compared to the previous year, resulting in a total shareholder return ratio of 45.6 percent.
During the annual meeting, CEO Yun Ho-young emphasized the bank’s commitment to shareholder value. “We will continue to pursue shareholder policies that actively share the gains from the company’s growth, ensuring that solid business performance translates into higher shareholder value,” he stated.
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