The founder of Krafton, Mr Chang Byung-gyu, distributes his own stock worth 100 billion won to all employees. Mr Chang Byung-gyu is the chairman of the board of directors of the company. He sent an email to all of the company’s employees informing them of the decision.
Krafton headquarters and over 2,000 employees of domestic and international affiliates. Moreover, those who are expected to join the firm, are among the recipients of stock.
Message to the Employees:
In an email, Chairman Jang said, “I am sending an email as Chang Byung-gyu, the largest shareholder and natural person, not the chairman of the board of directors. I decided to donate private stock as a way to share my gratitude to all the global members.”
They also considered the employee stock ownership associations. But, the current legislation only applied to Korean employees. However it did not apply to employees of overseas subsidiaries.
It is because it requires the creation of a new process. Currently, nearly 90% of Krafton’s total revenues are produced outside Korea.
He added, “I would appreciate it if you would accept it as an expression of my passion and will for global customers, markets, and members. I hope that we will continue to work together to make it a bigger and better company based on strong mutual trust for a long time.”
The company submitted an application for preliminary review for listing on the stock exchange. After that, they began a full-fledged IPO last month.
Chairman Chang and his wife own 17.41% of Krafton’s stake. Further, he adds, “Krafton is Krafton, and Chang Byung-gyu is Chang Byung-gyu,” and “The principle (dividing the company and the founder) must be clear so that it does not become like a chaebol.”
There are about 2,000 domestic and foreign employees of the Krafton family. And they are hiring 700 employees this year.
Moreover, he also mentioned that he would also give stocks to the new employees who will join in September 2021.
He said, “I am well aware that without you, there is neither Krafton nor I, and I am always grateful.” He admires the company to be truly global, for customers and as a founder.
It is a South Korean video game company. The company has developed many games like PUBG. Their subsidiaries are – Bluehole Studio, PUBG Studio, Striking Distance Studios and RisingWings.
To sum up, Krafton is one of the most successful video game companies. This is a great step and kind gesture by Mr Chang. Krafton seems to own even more in the future.