Union members of South Korean tech giant Kakao go on strike

Members of the labor union at Kakao Corporation, one of South Korea's largest technology companies and the operator of the country's leading digital services ecosystem, have launched the first strike in the company's history, demanding higher bonuses and a greater share of profits.

According to Yonhap News Agency, cited by Report, the strike and rally began near the company's headquarters in Pangyo, south of Seoul.

The union said that approximately 1,500 members from five Kakao affiliates took part in the action, including employees from the company's headquarters, Kakao Pay, and Kakao Enterprise.

The participants marched around the company's headquarters alongside workers from other IT firms in the area, carrying white umbrellas. They are demanding that 13–14% of last year's operating profit be distributed as performance bonuses.

The union is also seeking changes to the company's compensation structure, including the incorporation of restricted stock awards into the official bonus pool. Restricted stock is a form of employee compensation granted in company shares that vest under specific conditions or after a certain period of time.