Kim Jung-ju, the chairman of NXC, the holding company of Nexon, has pledged to donate more than 100 billion won of his personal wealth to philanthropic causes.
“I will begin work to donate part of my family's wealth to create a better society and future,” the 49-year-old entrepreneur said in a statement.
He said he would cooperate with local governments to establish children's rehabilitation hospitals, which are now available only in Seoul. He also said he would expand his support for youth start-ups.
"From my past experience, more than 100 billion won is likely to be needed for such activities and I will ensure that these plans are implemented without any hitches,” he added.
“I’d like to pay back my debt to society regardless of the result of the trial,” Kim said, referring to the trials he underwent with regard to the Nexon shares he gave to Jin Kyung-jun, a former prosecutor.
“During the trial, I heard that a small company I had founded with my friends grew into a large company with total assets exceeding 5 trillion won, and I am well aware that we have been able to grow the company with the support from society."
During the past two years, Kim has been investigated and tried on charges of offering bribes to Jin. He was found innocent on May 19.
In addition, Kim emphasized that he would not pass down the management rights of Nexon to his children.
Nexon is one of Korea’s largest game developing companies with more than 5,000 employees at home and abroad. Kim stressed that a transparent and non-hierarchical culture must be maintained so that the company could continue to innovate and grow healthy.