From the evaluation of paying the debts of the heart to the family and relatives who supported him, there are also stories that the timing of the donation was decided in the thought that the stock price would rise further in the future.
According to the Financial Supervisory Service’s electronic disclosure system on the 20th, Chairman Kim announced that the day before, he had donated 330,000 shares of his own stock to his family and relatives.
He donated 60,000 shares to his spouse, Hyung Mi-sun and his children Sang-bin and Ye-bin, respectively, and 4200 to 25,000 shares to eleven brothers and relatives.
The 11 donors were Haengja Kim (25,000 shares), Myunghee Kim (2800 shares), Daehwan Kim (4200 shares), Hwayoung Kim (15,000 shares), Yunjeong Jang (5415 shares), Yerim Kim (4585 shares), Eunjung Kim (10,000 shares) 5900 shares), Kim Gun-tae (4550 shares), Kim Yu-tae (4550 shares), Hyung Mi-sook (19,000 shares), and Park Hyo-bin (6000 shares).
The valuation of donated stocks reached 145.2 billion won based on the closing price of 440,000 won for Kakao on the 19th.
Kakao said, “Since Chairman Kim is personal, there is nothing to explain at the company level.” It is presumed that Chairman Kim decided and carried out alone without internal communication.
With this, it is analyzed that Chairman Kim was trying to pay the debts of his heart to relatives who supported him when he was young.
Chairman Kim is a self-made entrepreneur from the so-called’dirt spoon’. He was born the third of five siblings of a father who works in woodwork and a mother who goes to a restaurant. A large family of 8 people, including the grandmother, lived in a single room.
In order to send Chairman Kim to university, all of his siblings gave up going to university, and thanks to that, Chairman Kim was able to complete his undergraduate and master’s degree in Industrial Engineering at Seoul National University. Until Chairman Kim raised Kakao into Korea’s leading big tech company, it was impossible without strong support from relatives.
The reaction was warm. In the internet space, there were reviews saying, “It’s hundreds of times better to give something like that than to hold it alone,” and “If you make money, what you give to my family, my surroundings, and neighboring society is spending money properly.”
Some also said that the gift of Chairman Kim was carried out in anticipation of a rise in the share price of Kakao. It is an analysis that the gift was given in advance because the higher the stock price, the greater the gift tax to be paid.
A netizen on Naver’s stock page analyzed that “when the stock price is cheap, you have to give it to pay less tax.” An analysis came out on Facebook that “they expected the stock price to rise and gave it now.”
Stock prices predict that Kakao shares will rise further. According to FnGuide, Kakao’s fair share price consensus (average of the stock price forecast) is 490,750 won. It is an analysis that there is more upside potential of 50,000~60,000 won.
In a recent report, IBK Investment & Securities researcher Lee Seung-hoon said, “The profitability of Kakao Pay and Kakao Bank is improving, and the possibility of IPO is increasing, and Piccoma and Kakao Page are also likely to be listed.” As the company emerged, the equity value of subsidiaries also increased.”
UPI News / Reporter Donghoon Yang [email protected]
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