Kakao taps marketing experts as new co-CEOs

Kakao, South Korea’s internet platform giant, has tapped its vice presidents with marketing backgrounds as new co-chief executive officers, the firm said Wednesday.

Starting March, Yeo Min-soo, vice president of advertising, and Joh Su-yong, vice president of brand design, will take the helm of the operator of a flagship messenger app, a web portal, an online streaming service and a direct bank, among others.

Yeo, 48, has played a vital role in establishing Kakao’s tailored advertising platform, while Joh, 44, led an in-house center for integrated branding, according to the firm. 

Kakao Vice President Yeo Min-soo (left) and Vice President Joh Su-yong (Kakao)

Both Yeo and Joh joined Kakao as vice presidents in 2016. They have built careers in marketing and advertisement for decades. The two also have experience working at Kakao’s rival NHN, which later divided into Naver and NHN Entertainment.

Yeo was formerly in LG Electronics, eBay Korea, NHN and Oricom. He holds a master's degree in school of management in Massachusetts Institute of Technology.

Joh was awarded Silver Lion in Cannes Lions International Festival of Creativity in 2010 and 2013. After leaving NHN in 2010, he has run a marketing agency Joh & Company. Joh holds a master's degree in Seoul National University. 

The decision is expected to enhance Kakao’s platform capabilities and bolster synergy among online services provided by Kakao, according to the firm Wednesday. The new leadership will be confirmed at a forthcoming board meeting slated for March.

Rim Ji-hoon, the incumbent CEO, will step down in March.

Since taking over web portal operator Daum in 2014, Kakao has spun off various firms including emoticons maker Kakao Friends, mobile game developer Kakao Games and mobile payment service provider Kakao Pay.

By Son Ji-hyoung 
(consnow@heraldcorp.com)