Kakao co-CEO resigns soon after mass outage locked 53 million people out

Kakao co-CEO resigns soon after mass outage locked 53 million people out


A top govt at Kakao Corp., the operator of South Korea’s top cell messenger KakaoTalk, will phase down. His resignation will come following a fireplace at a data center led to a mass outage about the weekend and disrupted products and services for its messenger’s 53 million buyers globally.

Co-CEO Namkoong Whon apologized next the outage and stated he would resign.

“I really feel the weighty load of obligation around this incident and will move down from my situation as CEO and lead the emergency catastrophe job drive overseeing the aftermath of the incident,” Namkoong explained at a press conference at the firm’s business office in the outskirts of Seoul on Wednesday.

“We will do our ideal to restore our users’ religion in Kakao and make positive incidents like these never ever take place yet again,” he stated, according to a CNBC translation.

Namkoong was appointed CEO in March, according to the company’s website. Kakao claimed 47.5 million monthly energetic end users in Korea in the course of the next quarter. That is extra than 90% of South Korea’s inhabitants of 51.74 million people today, as of Nov. 1, 2021.

Hong Eun-taek, who led the business alongside Namkoong as co-CEO, will remain the sole head of the business, in accordance to a organization submitting.

“We sincerely apologize to all all those that have suffered from the disruptions in the course of the outage,” Hong said as he bowed along with Namkoong.

Shares of the firm traded 4% greater in Korea’s morning session forward of the push convention.

This is breaking information. Make sure you look at back for updates.



Resource

The chart that has Michael Burry worried about the stock market
World

The chart that has Michael Burry worried about the stock market

Michael Burry is warning that a shift in household wealth could leave the stock market vulnerable to a long and significant downturn. “The Big Short” investor pointed to a graphic produced by Wells Fargo showing that U.S. households now hold a larger share of their net worth in equities than in real estate — a […]

Read More
This biotech name is evolving into a major obesity play. How to trade it with options
World

This biotech name is evolving into a major obesity play. How to trade it with options

Amgen is entering a pivotal period the as it moves beyond its Enbrel franchise and repositions around obesity, rare disease and next-generation oncology. While Enbrel has entered a period of decline due to Medicare pricing reform, management has demonstrated credible execution in replacing that cash flow with a higher-quality pipeline. Early success from the Imdelltra […]

Read More
Three holds and a cut? Europe’s central banks are about to make their final calls of 2025
World

Three holds and a cut? Europe’s central banks are about to make their final calls of 2025

A projected illumination marking the 75th anniversary of the Schuman Declaration, on the Grossmarkthalle building at the European Central Bank headquarters in Frankfurt, Germany, on May 9, 2025. Alex Kraus/Bloomberg via Getty Images Investors are gearing up for the last interest-rate decisions of 2025, with four of Europe’s central banks announcing their monetary policies and […]

Read More