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

Whon Namkoong, co-chief government officer of Kakao Corp., speaks throughout a information convention in in Pangyo, South Korea, on Wednesday, Oct. 19, 2022. Namkoong resigned after a widespread outage took out Koreas hottest messaging and social media service. Photographer: SeongJoon Cho/Bloomberg through Getty Images

Bloomberg | Bloomberg | Getty Images

A prime government at Kakao Corp., the operator of South Korea’s prime cellular messenger KakaoSpeak, will step down. His resignation comes after a fireplace at a knowledge heart led to a mass outage over the weekend and disrupted providers for its messenger’s 53 million users worldwide.

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

“I feel the heavy burden of responsibility over this incident and will step down from my position as CEO and lead the emergency disaster task force overseeing the aftermath of the incident,” Namkoong stated at a press convention on the firm’s workplace within the outskirts of Seoul on Wednesday.

“We will do our best to restore our users’ faith in Kakao and make sure incidents like these never happen again,” he stated, based on a CNBC translation.

Namkoong was appointed CEO in March, based on the corporate’s web site. Kakao reported 47.5 million month-to-month lively users in South Korea throughout the second quarter. That’s greater than 90% of South Korea’s inhabitants of 51.74 million individuals, as of Nov. 1, 2021.

Co-CEOs Whon Namkoong (L) and Hong Eun-taek (R) bow earlier than they depart a information convention in Pangyo, South Korea on Oct. 19, 2022. Namkoong resigned after an outage over the weekend locked out hundreds of thousands of users.

SeongJoon Cho | Bloomberg | Getty Images

Hong Eun-taek, who led the corporate alongside Namkoong as co-CEO, will stay the only head of the corporate, based on an organization submitting.

“We sincerely apologize to all those that have suffered from the disruptions during the outage,” Hong stated as he bowed alongside Namkoong.

Shares of the corporate traded 4% greater in South Korea’s morning session forward of the press convention.

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