Kakao raises some W2.7bil to support earthquake recovery efforts in Turkey 

By Corperate Korea 

Kakao's social contribution platform 'Kakao Together' has raised over 2.7 billion won ($2 million) in a short period of time to support the recovery of earthquake-damaged areas in Turkiye and Syria, with more than 1.04 million users participating in the fundraising campaign since it started on the 7th.

For each supportive comment made on the fundraising campaign, Kakao has pledged to donate 1,000 won($0.77). So far, around 600 million won($462,830) has been donated, and Kakao plans to donate up to 1 billion won($771,391) depending on user participation. Kacao Makers is also donating the sales proceeds of a made-to-order sweatshirt with support illustrations and a message and a smartphone case to UNICEF Korea Committee for the rebuilding of the affected areas, provision of clean drinking water, sanitation, and medical assistance.

Kim Bum-soo, director of Kakao’s Future Initiative Center, has also donated 1 billion won($771,391) worth of personal stocks to Community Chest of Korea. In response to the emergency fundraising campaign, other organizations, including the Korean Committee for UNICEF, Community Chest of Korea, and Hope Bridge Korea Disaster Relief Association have also joined the effort.

Kakao CEO Hong Eun-taek expressed his deepest condolences and hopes that the donations will help in the safe recovery and return to normalcy of the affected areas. Kakao has been actively fulfilling its humanitarian aid and social responsibility, having donated about 5.4 billion won($4.2 million) for overcoming the damage caused by the COVID-19 pandemic in 2020, about 1.4 billion won for the recovery from torrential rains, and over 2.6 billion won($2 million) for the recovery from the wildfires in Gangwon-do in March 2022.

Overall, Kakao's social contribution platform and impact commerce have been making a positive impact in disaster situations, demonstrating the company's commitment to shared value.