Kakao co-CEO resigns after mass outage locked 53 million users out
Summary
His resignation comes after a fire at a data center led to a mass outage over the weekend and disrupted services for its messengers 53 million users worldwide. "I feel the heavy burden of responsibility over this incident and will step down from my position as CEO and lead the emergency disaster task force overseeing the aftermath of the incident," Namkoong said at a press conference at the companys office in the outskirts of Seoul on Wednesday. "We will do our best to restore our users faith in Kakao and make sure incidents like these never happen again," he said, according to a CNBC translation. "We sincerely apologize to all those that have suffered from the disruptions during the outage," Hong said as he bowed alongside Namkoong. Shares of the company traded 4% higher in Koreas morning session ahead of the press conference.
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