South Korean conglomerate Daum Kakao today announced that it has nominated Ji Hoon Rim, CEO, K Cube Ventures, as its new CEO, shifting away from the former two co-CEOs structure.

Ji Hoon Rim is nominated for CEO

Ji Hoon Rim is nominated for CEO

Rim, who founded K Cube Ventures in 2012 and sold the venture capital firm to Daum Kakao earlier this year, will succeed Saehoon Choi and Sirgoo Lee, both co-CEOs of Daum Kakao.

Updated: According to Daum Kakao, Rim will be resigning from his post at K Cube Ventures, and handing over his duties to a new CEO appointed by the venture capital firm. Additionally, Choi and Lee will be helping Rim with transitioning into his new role; nothing has been decided at the moment regarding Choi and Lee’s new roles. 

Choi and Lee were both named co-CEO of Daum Kakao, after Daum, an 18-year-old Internet giant in South Korea, merged with Kakao, most well-known for the eponymous chat app it launched in 2010.

In a statement, Rim said, “While truly excited, I also feel heavy responsibility to spearhead the next phase of growth of Daum Kakao, which has been a pioneer in the mobile market.”

He added that he will be working hard to transform Daum Kakao into a “prominent mobile company in Korea” and beyond.

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Rim’s work experience includes starting out as an analyst at Accenture, working as an Associate in NHN’s Corporate Strategy office, moving on to serve as an Associate Consultant in The Boston Consulting Group, investing as a Principal at Softbank Ventures Korea, and founding K Cube Ventures.

Altogether, Rim has had around eight years of experience investing in startups at various stages, although K Cube Ventures specialise in dealing with early-stage companies.

Rim’s nomination as Daum Kakao’s new CEO was backed by Choi and Lee. According to the official press document, Choi said, “We recommended Rim because we believed he is an ideal leader for ushering Daum Kakao into a new era of mobile innovation.”

Lee added, “Daum Kakao has been at the forefront of the mobile platform industry, but greater challenges that we can’t yet imagine lie ahead of us. Rim is an exceptional leader that can lead Daum Kakao through this next chapter and help us grow even faster.”

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Rim’s appointment will be made official after an extraordinary general meeting of shareholders this September 23.

e27 has reached out to Daum Kakao for more information on Lee and Choi’s roles going forward, and whether there will be any changes regarding Rim’s role at K Cube Ventures.