South Korea-based internet company Daum Kakao has named Ji Hoon Rim, a former principal of telecommunications company SoftBank’s corporate venturing subsidiary SoftBank Ventures Korea, as its next CEO, E27 reported on Monday.
Rim will replace Saehoon Choi and Sirgoo Lee, who became co-CEOs in October 2014 when web portal Daum and instant messaging app developer Kakao completed a $9.4bn merger. He will take up the position in September 2015.
Rim joined Daum Kakao in March 2015, when the company acquired his venture capital firm, K Cube Ventures, for an undisclosed amount and proceeded to incorporate it as a corporate venturing unit, investing $15m in the fund in the process.
Prior to his stint at K Cube, Rim served as principal of SoftBank Ventures Korea, SoftBank’s local corporate venturing outfit, from 2007 until 2012 when he left to set up K Cube. He will leave his role as K Cube’s CEO before stepping up to his new responsibilities.
Rim said: “While truly excited, I also feel heavy responsibility to spearhead the next phase of growth of Daum Kakao, which has been a pioneer in the mobile market.”
Lee added: “Daum Kakao has been at the forefront of the mobile platform industry, but greater challenges that we cannot yet imagine lie ahead of us. Rim is an exceptional leader that can lead Daum Kakao through this next chapter and help us grow even faster.”
– Photo courtesy of LinkedIn