Due to gambling and censorship challenges within the Kakao ecosystem, the organization's board of directors ejected Kim-beom-soo as CEO and decided to replace him with Rim Ji-hoon. Kim Beom-soo become the biggest shareholder in the new pro forma company with a 22.two percent stake. On 26 May 2014, Kakao Corp. announced that it had decided to merge with Daum Communications, one particular of Korea's prime World wide web portals, through a stock swap.
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