Who is Kim Bum Soo, the richest man in South Korea who displaced the owner of Samsung as the richest man?

Around the world you can find companies that, although they are not known by their official names, we use their services daily without knowing who we are benefiting from our purchases. In addition, each country has its own system of millionaire heirs related to conglomerates that manage entire items.

This is the case of Kim Bum Soothe current owner of one of the communication and entertainment companies in South Korea which has a huge network that ranges from messaging, music applications and internet services. Its success is so great that the founder is considered the richest man in the country, even more than the head of Samsung.

The Kakao conglomerate

Kakao was founded in 2010, initially as a messaging platform. Over time, it diversified its services and products, becoming a conglomerate spanning technology, entertainment, and finance. In 2014 and after a change of CEO, merged with Daum Communicationsa major South Korean internet company, consolidating its digital presence and strengthening its infrastructure. They currently have a presence in these areas with different applications:

Technology and communication

• KakaoTalk: It is the heart of the ecosystem. Beyond the messagingincludes features such as payments, games, and transportation services.
• KakaoPay: A mobile payment system which competes with other fintech giants in Asia.
• KakaoBank: A fully digital bankwhich has transformed the way South Koreans manage their finances.

Entertainment and content

• Kakao Entertainment: Producer music, series, and manage artists. In addition, it controls Melon, the largest music streaming service in South Korea.
• Webtoons and novels: KakaoPage and Kakao webtoon They are leading platforms in the publication of comics and digital literatureinfluencing global pop culture.

Transport and local services

• Kakao Mobility: Offers transportation services such as taxis (KakaoT), bike rental and maps.
• KakaoMap: Direct competitor of Google Maps in Korea.

Video games

• Through Kakao Gamesdevelops and publishes video games, expanding its influence in the gaming sector.

Although its impact is stronger in Korea, Kakao has already begun to go globalespecially through its digital content with webtoons, novels, and Kpop artists who produceand alliances with foreign companies.

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Kim Bum Soo, the most important millionaire in South Korea

Kim Bum Soo is a South Korean businessman, founder of Kakao Corporation. He was born in 1966 into a low-income family, and was able to overcome numerous adversities to achieve success. Study Industrial Engineering at Seoul National University, one of the country’s most prestigious institutions, and later earned a Master of Business Administration at San Francisco State University.

Before founding Kakao, Kim worked at Samsung SDSthe technology division of the Samsung conglomerate, where he developed his skills in programming and business management. In 2006, he founded a company called IWILABwhich would later become Kakao. Their vision was to create a messaging application that would connect people simply and efficiently. In 2010 it launched KakaoTalk, which quickly became the dominant communication platform in South Korea, integrating new services at the time such as payments, games and e-commerce.

Kim is known for his discreet but ambitious personalityand his leadership led the company to become a widely diverse conglomerate with unprecedented expansion. Despite his success, he also faced criticism for the Kakao monopoly impact in the Korean market. In recent years, Kim donated a large portion of his wealth to social causes to show his human side and clean your image of an egocentric tycoon.