The PUBG developer Krafton has announced its decision to give away some shares to its employees. It’s worth noting that overseas workers will receive $89 million in stock.
Due to the complexities of the South Korean market, only domestic employees could participate in the upcoming Employee Stock Ownership Program. That’s why Krafton’s chairman Byung Gyu Chang decided to give up part of the so-called “free private shares” worth $89 million to all overseas employees.
Private shares are offered exclusively by a private company to its investors and employees and can’t be purchased or sold without being approved by the issuing company.
BG Chang thinks that the company’s success wouldn’t be possible without its employees. “It brings me joy to be able to invest in our team members as they have helped build the company into what it is today,” he said. Replying to Krafton employees in a letter, the chairman also noted that the company initially couldn’t provide all members of the global team with shares due to the legal aspects of South Korean laws.
Thanks to this decision, all current employees and new members of the team (who will join the company before September 2021) will be able to receive these private shares. Krafton also plans to hire 700 more people throughout the next year.