Kim Beom-su, founder and chairman of South Korea’s biggest messaging app Kakao Corp., has been all-giving mood, gifting his wife, children and relatives his company shares worth a combined 145.2 billion won ($131.9 million).

Kim handed out his 330,000 shares in the company to his family and relatives, Kakao revealed in its regulatory filing on Tuesday.

His wife and two children each received 60,000 shares, worth 26.4 billion won at Kakao’s Tuesday closing price of 440,000 won.

This has reduced Kim’s stake in Kakao to 13.74 percent from 14.20 percent.

Kakao declined to comment, saying the stock transfer was the chairman’s personal decision.

Kim has donated Kakao shares on various occasions. In March, he gave away 11,000 shares to help fight the coronavirus. In August, he handed another 2,830 shares for flood relief aid during Korea’s record-long rainfall. From 2016 to 2018, he donated a total of 30,000 shares to Ashoka Korea, a non-profit, to provide educational support for young adults. In 2016, he gave 30,000 shares to ARCON to help create jobs for youth.

Since 2019, Kim has been donating Kakao shares held by K Cube Holdings, his personal investment company. K Cube Holdings signed an agreement with Ashoka Korea in November 2019 to donate a total of 20,000 Kakao shares. The initial 10,000 shares had been handed over then. The remaining half was given Tuesday.

Kakao shares closed Wednesday 0.91 percent higher at 444,000 won.

By Pulse

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