WEBTOON Entertainment CEO Junkoo Kim relocates to U.S. under amended, larger severance terms
WEBTOON Entertainment amended CEO Junkoo Kim's employment agreement effective October 1, 2026, as he relocates his primary residence from Korea to the United States, while he keeps his CEO and Chairman roles. The amended agreement increases severance for termination without Cause or resignation with Good Reason, which means higher potential cash and equity costs for the company if those events occur.
Key points
- Kim keeps his CEO and Chairman roles; the filing says the relocation does not change his responsibilities.
- Amended agreement raises non-change-in-control severance from six to 12 months of base salary, adds a lump sum equal to the target bonus, and extends COBRA reimbursement from six to 12 months.
- Within 12 months after a change in control, cash severance rises from 12 to 24 months of base salary, with a lump sum of two times the target bonus and full vesting acceleration of performance stock units.
- Kim receives a one-time relocation cash benefit of $567,009 payable in January 2027, and a severance payment of about $184,175 from NAVER WEBTOON payable in October 2026.
The filing
Written by AI on Nov 9, 2026, 11:46 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 05, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.