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Kim Beom-soo (businessman)

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In this Korean name, the family name is Kim.

Kim Beom-soo
Born (1966-03-08) 8 March 1966 (age 58)
Damyang County, South Korea
Other namesBrian Kim[1]
Alma materSeoul National University (BS, MS)
Known forFounder of Hangame and Kakao
TitleChairman of Kakao
Children2
Korean name
Hangul
김범수
Revised RomanizationGim Beomsu
McCune–ReischauerKim Pŏmsu

Kim Beom-soo (Korean: 김범수; born March 8, 1966), also known as Brian Kim, is a South Korean billionaire businessman who is the founder and chairman of Kakao, a South Korean internet company.[2] He is among the richest people in South Korea. In December 2024, Forbes estimated his net wealth as US$3.2 billion and ranked him 6th richest in the country.[3] He is currently facing criminal trial on stock manipulation charges.

Early life and education

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Kim was born in Damyang County and grew up in Seoul.[4][5] He is the third of five children raised by his grandmother in a one-bedroom apartment as his parents focused on work. His father was a pen factory worker and his mother was a hotel maid with grade-school education.[6][7] Kim grew up in poverty and funded his college education by working as a private tutor and sometimes skipped meals to save money.[2]

He holds a bachelor's and master's degree in engineering from Seoul National University.[2]

Career

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Kim's first job was as a developer for an online communication service at Samsung's IT services unit.[8]

In 1998, Kim started Hangame with $184,000 he was given by friends and family. The company started as an internet café business but later became South Korea's first online gaming portal. He merged the company with web portal Naver in 2000 and later worked as a representative of NHN until 2007.[8][9][7]

Kim moved to Silicon Valley, California in 2005 and created IWILAB, an incubator for Korean entrepreneurs in Mountain View, in 2006.[7]

In 2010, he started KakaoTalk, which is South Korea's biggest messaging app and is installed on 90% of the country's smartphones.[10][2] In the same year, Kim signed the Giving Pledge, committing to donate the majority of his wealth to philanthropy.[2]

2024 stock manipulation charges and arrest

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On July 16, 2024, the Seoul Southern District prosecutors' office revealed that an arrest warrant was sought against Kim on stock manipulation charges which were related to price-rigging that took place in 2023 during a bidding war over SM Entertainment.[11] On July 22, 2024, Kim made an appearance at the Seoul Southern District Court.[12][13] Shortly after midnight on July 23, 2024, Kim was arrested.[13][12]

Personal life

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Kim is one of the richest men in South Korea, with Forbes estimating his net worth at around $4.7 billion in December, 2023. He lives in Seoul with his wife Miseon Hyeong and their 2 children.[2]

In 2021, Kim signed the Giving Pledge, promising to donate more than 50% of his net worth to worthy social causes.[14]

Gambling accusations

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Kim was accused of gambling in Las Vegas from 2007 to 2010, which despite being overseas is illegal under South Korean law as he is a South Korean citizen. South Korean prosecutors reportedly obtained information from the U.S. Department of Justice and the Department of the Treasury that Kim had spent 20 hours and 51 minutes at the Bellagio Hotel in 2007 when he served as the CEO of NHN. According to the Hankook Ilbo, he bet an average of $2,440 per session and lost $16,993 during that time. NHN decided to comply with the prosecution's warrants requesting monitoring of chatting records, a reversal from its earlier stance.[15]

References

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  1. ^ "Kim Beom-Su "Brian"". Bloomberg. Archived from the original on 11 December 2017. Retrieved 18 December 2023.
  2. ^ a b c d e f "Profile: Kim Beom-su". Forbes. Archived from the original on 18 December 2023. Retrieved 6 August 2021.
  3. ^ "Kim Beom-su". Forbes. Retrieved 23 December 2024.
  4. ^ Park, Jeong-min (12 October 2021). 카카오와 김범수 의장을 바라보는 두 가지 시선 [Two eyes on Kakao and Chairman Kim Beom-soo]. Sisa Journal (in Korean). Archived from the original on 18 December 2023. Retrieved 18 December 2023.
  5. ^ Jang, Kwang-ho (22 February 2021). 카카오 김범수 의장은 '담양사람' [Kakao Chairman Kim Beom-soo is a 'Damyang man']. Damyang News (in Korean). Archived from the original on 13 December 2022. Retrieved 18 December 2023.
  6. ^ Jennings, Ralph (23 June 2021). "Kakao Founder Becomes Korea's Richest Person As Shares Of His Internet Giant Surge". Forbes. Archived from the original on 15 September 2022. Retrieved 6 August 2021.
  7. ^ a b c Mac, Ryan (2 March 2015). "How KakaoTalk's Billionaire Creator Ignited A Global Messaging War". Forbes. Archived from the original on 26 March 2023. Retrieved 6 August 2021.
  8. ^ a b "Kim Beom-su, Kakao: Life of Brian". Financial Times. 27 December 2015. Archived from the original on 8 February 2023. Retrieved 6 August 2021.
  9. ^ Kim, Hyun-bin (8 February 2021). "Kakao chairman to donate half his wealth". The Korea Times. Archived from the original on 6 April 2022. Retrieved 6 August 2021.
  10. ^ Lee, Yoo-jung (29 July 2021). "Kakao's Kim eclipses Samsung heir as South Korea's richest man". Al Jazeera. Archived from the original on 12 December 2023. Retrieved 31 July 2021.
  11. ^ Kang, Shinhye; Lee, Jenny Seung Min (16 July 2024). "Korea Seeks to Arrest Kakao Founder in Price-Rigging Case". Bloomberg News. Retrieved 23 July 2024.
  12. ^ a b Jun, Kwanwoo (23 July 2024). "Founder of South Korean Tech Giant Kakao Arrested Over K-Pop Agency Deal".
  13. ^ a b Lee, Yoolim; Kim, Sohee (23 July 2024). "Tech Star Arrested in Korea After $10 Billion Fall From Grace". Bloomberg News. Retrieved 23 July 2024.
  14. ^ "Miseon Hyeong and Beom-su Kim - The Giving Pledge". Giving Pledge. Retrieved 26 April 2024.
  15. ^ Bae, Ji-sook (11 October 2015). "Kakao chairman again embroiled in gambling scandal". The Korea Herald. Archived from the original on 10 May 2023. Retrieved 11 October 2015.
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