Kakao faces gloomy outlook following founder's arrest 카카오, 창업자 구속으로 암울

[김우정]

김범수 카카오창업자가 어제 새벽에 SM엔터테인먼트 인수관련 법률위반혐의로 구속되었습니다.
김범수 카카오 기업쇄신위원장은 우리나라의 최고 주식부자이고 카카오는 국내 15위 대기업집단입니다.
이번 구속으로 향후 카카오의 인수합병, 투자, 기업공개 등이 중단 될것입니다.
김위원장이 유죄를 받는다면 카카오 뱅크 등 금융계열사의 경영권도 위협을 받게됩니다.
100개 이상의 자회사를 보유하고 있는 카카오그룹의 장래가 안개속입니다.
 
Kakao faces gloomy outlook following founder's arrest
카카오, 창업자 구속으로 암울

By Nam Hyun-woo 남현우 기자
Posted : 2024-07-23 16:12 Updated : 2024-07-23 17:47
Korea Times

Kakao founder Kim Beom-su enters the Seoul Southern District Court in Yangcheon District, Seoul, Monday, to attend a court review on an arrest warrant against him. The court issued the warrant early Tuesday. Yonhap 김범수 카카오 창업자가 25일 구속영장실질심사에 출석하기 위해 서울 양천구 서울남부지법으로 들어서고 있다. 구속영장은 화요일 일찍 발부되었다. 연합

Future investments, governance restructuring grind to halt due to leader's absence
리더부재로 향후 투자, 지배구조개편 중단

Kakao, Korea’s leading messaging app operator, faces a troubling outlook following a court’s decision to arrest its founder, Kim Beom-su, on allegations of stock price rigging. The escalating prospect of his conviction threatens to disrupt the company’s future investment strategies and business restructuring efforts.
한국의 대표적인 메시지 앱 운영자인 카카오는 주가 조작 혐의로 창업자인 김범수를 체포하기로 한 법원의 결정 이후 걱정스러운 전망에 직면해 있다. 그의 유죄 판결에 대한 높아지는 전망은 그 회사의 미래 투자전략과 사업구조조정 노력을 방해할 위협이 있다.

At around 1:30 a.m., Tuesday, the Seoul Southern District Court issued an arrest warrant against Kim. He is currently facing charges of breaching financial regulations in the course of Kakao’s acquisition of a stake in K-pop management agency SM Entertainment last year.
서울남부지법은 화요일 오전 1시 30분경 김씨에 대한 구속영장을 발부했다. 김 씨는 지난해 카카오가 K팝 매니지먼트사인 SM엔터테인먼트의 지분을 인수하는 과정에서 금융규정을 위반한 혐의를 받고 있다.

Prosecutors suspect Kim of being part of an alleged scheme in which leaders of Kakao-affiliated companies manipulated SM Entertainment’s stock price to sway the outcome of a bidding race against HYBE, the parent company of BigHit, which manages the globally popular K-pop group BTS.
검찰은 김씨가 세계적으로 인기 있는 K팝 그룹 방탄소년단(BTS)을 관리하는 빅히트의 모회사인 하이브(HYBE)와의 입찰경쟁 결과를 흔들기 위해 카카오 계열사대표들이 SM엔터테인먼트의 주가를 조작한 의혹의 일부라고 의심하고 있다.

Kim has consistently denied any involvement in the allegations. During a meeting with Kakao affiliate leaders on July 18, he stated that the charges against him are "not true," and underscored the need for Kakao to reform its governance to fulfill public expectations.
김씨는 지속적으로 그 혐의들에 어떠한 관련도 없다고 부인했다. 7월 18일 카카오 계열사 경영자 들과의 회의에서, 그는 그에 대한 혐의들이 "사실이 아니다,"라고 진술했고, 대중의 기대를 충족시키기 위해 카카오가 그것의 지배구조를 개혁할 필요성을 강조했다.

In a text message to reporters, Kakao said, “We regret the current situation, but will do our best to fill the management gap under the leadership of Chung Shin-a, co-chair of the Corporate Alignment (CA) Council.” Chung is the CEO of Kakao.
카카오는 이날 기자들에게 보낸 문자메시지에서 "현 상황에 대해 유감스럽게 생각하지만, 정신아 기업쇄신위원회(CA) 공동위원장의 주도로 경영 공백을 메우기 위해 최선을 다하겠다"고 밝혔다. 정 대표는 카카오의 대표이사다.

Kakao founder Kim Beom-su attends a meeting with the CEOs of Kakao affiliates at the company's office in Pangyo, Gyeonggi Province, July 18. Courtesy of Kakao 카카오 창업자 김범수 카카오 창업자가 7월18일 경기도 판교에 위치한 회사 사무실에서 열린 카카오 계열사 CEO 간담회에 참석하고 있다. 카카오 제공

Kim’s arrest raises serious concerns about the future of Korea’s largest messaging app operator and the stability of its extensive network of affiliates.
김씨의 구속은 한국 최대의 메시지 앱 사업자의 미래와 광범위한 계열사 네트워크의 안정성에 대한 심각한 우려를 야기한다.

Since late last year, Kakao has been working to regain the trust of the market, investors, the general public, and the government by overhauling its business practices.
카카오는 지난해 말부터 영업관행을 정비해 시장과 투자자, 일반 국민, 정부의 신뢰를 되찾기 위해 노력하고 있다.

Kakao launched a Compliance and Trust Committee and replaced the CEOs of key subsidiaries to initiate management reforms. To spearhead governance restructuring and lead Kakao’s belated entry into the AI competition, Kim, who had stepped down as chairman of the board in 2022, returned to the company’s management by establishing the CA Council and assuming its chairmanship.
카카오가 준법감시위원회를 출범하고 주요 자회사 최고경영자(CEO)를 교체해 경영 개혁에 나섰다. 지배구조 개편을 주도하고 뒤늦게 카카오의 AI 경쟁 진출을 이끌기 위해 2022년 이사회 의장직에서 물러났던 김 회장은 기업쇄신위원회(CA)를 설립하고 의장직을 맡으며 회사경영에 복귀했다.

Kim’s influence across Kakao affiliates is backed by his ownership of Kakao stakes.
카카오 계열사 전반에 걸친 김 회장의 영향력은 카카오 지분 소유가 뒷받침하고 있다.

He is the largest shareholder of Kakao with a 13.32 percent stake. In addition, K Cube Holdings, the second-largest shareholder with a 10.43 percent stake, is wholly owned by Kim, giving him control over a combined 23.75 percent of Kakao's shares.
그는 13.32%의 지분을 가진 카카오의 가장 큰 주주이다. 게다가, 10.43%의 지분을 가진 두 번째로 가장 큰 주주인 K Cube Holdings는 그에게 카카오의 총 23.75%에 대한 통제권을 주면서, 김씨는 완전히 소유하고 있다.

Being the largest shareholder of Kakao allows Kim to exert effective control across a vast network of Kakao companies, which hold full or controlling interests in dozens of affiliates and extend to more than a hundred subsidiaries. According to the Fair Trade Commission, Kakao was Korea’s 15th-largest conglomerate as of May and the second-largest in terms of the number of subsidiaries and affiliates, which stands at 128.
카카오의 최대주주가 됨으로써 김씨는 수십 개의 계열사에 대한 지분을 전부 또는 지배하고 100개 이상의 자회사로 확장되는 방대한 카카오 회사 네트워크에 걸쳐 효과적인 지배력을 행사할 수 있다. 공정거래위원회에 따르면 카카오는 5월 기준으로 한국의 15번째로 큰 대기업이며 128개에 달하는 자회사 및 계열사 수에서 두 번째로 큰 기업이다.

Considering his influence over Kakao’s overall business activities, Kim's arrest is expected to pause mergers and acquisitions, investments, and initial public offerings of Kakao’s affiliates, since these actions require approval from the top decision-maker.
카카오의 경영활동 전반에 미치는 영향력을 고려할 때 김 회장의 구속으로 카카오 계열사 인수합병, 투자, 기업공개 등이 중단될 것으로 예상되는데, 이는 최고 의사결정권자의 승인이 필요하기 때문이다.

Kakao companies have already suffered setbacks in their investment bids stemming from Kim's legal risks. In December, Kakao’s fintech subsidiary, Kakao Pay, failed to complete its acquisition of a controlling stake in Siebert, a U.S. brokerage, apparently due to the stock rigging allegation. Similarly, in the same month, Kakao Mobility’s attempt to acquire FreeNow, Europe’s largest taxi-hailing platform, also ran into a deadlock.
카카오 기업들은 이미 김씨의 법적 리스크에서 비롯된 투자 입찰에서 차질을 빚었다. 12월 카카오의 핀테크 자회사인 카카오페이가 미국 증권사인 시버트의 지배 지분 인수를 완료하지 못한 것은 주식 조작 의혹 때문으로 보인다. 마찬가지로 같은 달 카카오모빌리티의 유럽 최대 택시 호출 플랫폼인 프리나우 인수 시도도 교착 상태에 빠졌다.

The logo of KakaoBank / Courtesy of Kakao Bank 카카오뱅크 로고 / 카카오뱅크 제공

Kim’s arrest also threatens Kakao’s status as the largest stakeholder in KakaoBank.
김씨의 구속으로 카카오뱅크의 최대주주 지위도 위협받고 있다.

Korea’s laws stipulate that a non-financial company can retain its largest stakeholder status in an internet-only bank only when it has no history of facing fines or stiffer punishments for financial crimes for the past five years.
우리나라 법률은 비금융회사가 최근 5년간 금융범죄로 벌금형을 받거나 처벌을 강화한 전력이 없는 경우에만 인터넷전문은행의 최대 이해관계자 지위를 유지할 수 있도록 규정하고 있다.

Kakao now holds a controlling 27.17 percent stake in KakaoBank. If Kakao loses its status, it has to reduce its stake to 10 percent.
카카오는 현재 카카오뱅크 지분 27.17%를 보유하고 있다. 카카오가 지위를 잃으면 지분을 10%로 줄여야 한다.

“The arrest warrant implies a greater likelihood of Kim facing a guilty verdict,” Samsung Securities analyst Oh Dong-hwan said. “Although it will take a long time before the final court ruling, the fact that Kakao’s management has to divert its resources to address legal risks will adversely affect the company’s ability to discover new growth engines.”
오동환 삼성증권 애널리스트는 "구속영장은 김씨가 유죄 판결을 받을 가능성이 커졌음을 의미한다,"며 "최종 법원 판결까지는 많은 시간이 걸리겠지만 카카오 경영진이 법적 리스크를 해결하기 위해 자원을 전용해야 한다는 점은 회사의 신성장동력 발굴 능력에 악영향을 미칠 것."이라고 내다봤다.

Upon Kim’s arrest, Kakao companies’ shares closed lower on Tuesday. Kakao ended at 38,850 won, down 5.36 percent from a day earlier. Its affiliates, Kakao Games and Kakao Pay, closed down 5.38 percent and 7.81 percent, respectively. KakaoBank suffered a sharp fluctuation due to mixed interpretations over Kakao possibly unloading its stake and closed at 20,300 won, down 3.79 percent from a day earlier.
김대표가 구속되자 이날 카카오의 주가는 하락세로 마감했다. 카카오는 전날보다 5.36% 하락한 38,850원에 거래를 마쳤다. 계열사인 카카오게임즈와 카카오페이는 각각 5.38%, 7.81% 하락했다. 카카오뱅크는 카카오의 지분 매각 가능성에 대한 해석이 엇갈리면서 급락세를 보이며 전날보다 3.79% 하락한 2만300원에 거래를 마쳤다.

#founder창업자 #arrest warrant구속영장 #stockpricerigging주가조작 #governancerestructuring지배구조개편 #allegations혐의 #affiliates계열사 #financialregulations금융규정 #mergerandacquisition인수합병 #subsidiaries자회사 #investment투자