Provided by Kakao Games

Kakao Games (Co-CEOs Kim Tae-hwan and Lee Si-woo) announced on August 24 that, following an extraordinary general meeting of shareholders that passed two agenda items to enhance shareholder value, its management team, including Co-CEOs Kim Tae-hwan and Lee Si-woo, purchased a total of approximately 500 million won worth of treasury stock.

The company held an extraordinary general meeting of shareholders at the Kakao AI Campus in Yongin, Gyeonggi Province, passing key agenda items including the 'Approval of Holding and Disposal Plan for Treasury Shares' and 'Coverage of Deficits and Transfer of Capital Reserve to Retained Earnings.' Following the cancellation of 500,000 treasury shares in July, these measures were all passed during this extraordinary general meeting as part of long-term shareholder return initiatives.

Kakao Games plans to introduce a share-based performance compensation system (Restricted Stock Units, hereinafter RSU) for executives and employees using its remaining approximately 350,000 treasury shares following the cancellation. RSUs are designed to align employee compensation with the company's sustainable growth and enhancement of shareholder value by establishing vesting conditions centered around medium- to long-term performance, corporate value, and shareholder value targets. The company plans to finalize the details of the stock-based compensation system through a future board meeting.

In addition, the company will reduce its capital reserve by approximately 1.54 trillion won and transfer it to retained earnings, using it as a financial resource to drive medium- to long-term shareholder return policies. On top of this, Co-CEOs Kim Tae-hwan and Lee Si-woo, alongside CFO Shin Kwon-ho, bought a combined total of approximately 500 million won in treasury stock to practice shareholder-centric responsible management.

Lee Si-woo, CEO of Kakao Games, stated, "We will continue to roll out shareholder return policies from a medium- to long-term perspective while fostering joint growth in shareholder value and corporate value."