Naver Financial set to replace scandal-ridden CEO - Korea Times
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Naver Financial set to replace scandal-ridden CEO

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Naver Financial CEO Choi In-hyuk / Courtesy of Naver
Naver Financial CEO Choi In-hyuk / Courtesy of Naver
By Park Jae-hyuk

Naver Financial CEO Choi In-hyuk, who is being held morally responsible for the death of a Naver programmer who killed himself in May after suffering from workplace harassment, will be relieved from the position in the fintech firm's forthcoming executive reshuffle, according to sources and media reports, Wednesday.

Although a Naver Financial spokesperson said that nothing has been decided yet, sources familiar with this issue have said that Naver Chief Financial Officer (CFO) Park Sang-jin will succeed Choi, given that Naver recently appointed Kim Nam-sun as the new Naver CFO, who will take the positon in March of next year.

Park has already served as an executive director of Naver Financial. He is expected to start leading the company from March of next year, after finishing the process of transferring his duties to the new Naver CFO.

The incumbent Naver Financial CEO was initially expected to resign in June, when he was suspended from his duties as the Naver chief operating officer (COO) in compliance with the recommendation from Naver's risk management committee.

He pushed ahead with the rehiring of the deceased worker's boss from Netmarble in 2019, despite opposition from Naver employees who had worked under the man in the past. Choi is also said to have defended the man in question, even though several Naver employees complained about his violent behavior displayed at work after his return.

However, Choi offered to resign only as the Naver COO, maintaining his CEO positions at Naver Financial and at the Happybean Foundation.

In response, the Naver union has demanded the National Pension Service, the company's largest shareholder, to exercise the stewardship code and dismiss him from all his positions.


Park Jae-hyuk pjh@koreatimes.co.kr


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