Stakeholder Communication
#Communication with Stakeholders #Distribution of Economic Values
SOOP has identified key stakeholders, including not only business partners, who directly give or receive impact to or from our business, but also indirect stakeholders, who give or receive impact upstream or downstream of our value chain. To encourage stakeholders’ participation and cooperation, we utilize multiple feedback channels, including regular meetings, e-town hall meetings, online communication channels, and grievance hotline.
Status of Communication with Stakeholders
| Classification | Definition | Key Issues | Communication Channels | Communication Status and Achievements in 2023 |
|---|---|---|---|---|
| Shareholder | Persons that directly or indirectly participate in the management of SOOP by holding shares |
|
|
|
| Media Association and Agency | Entity that discusses media norms, rules and ethics, and sets common values |
|
|
|
| Local Community & Civil Society | Group of people that seek the development of a certain area |
|
|
|
| User | Person that uses, or may use in the future, the SOOP’s platform service |
|
|
|
| Streamer | Person that creates content on SOOP’s platform service |
|
|
|
| Employee | Employees of SOOP |
|
|
|
| Partners and Contractors | External entities that support business operations, including development, sales, sales support and staffing related to the SOOP platform’s products and services |
|
|
|
Communication Channel
- Live Conference Call
-
SOOP holds a live broadcast every quarter to share its business performance and future direction with all stakeholders, including investors, analysts, employees, streamers, and users. Viewers can ask questions about SOOP’s financial results, future strategies, and more via chat, and communicate with the CEO and IR manager in real-time. This approach combines SOOP’s communication-focused culture with the benefits of an interactive communication platform. In March 2023, SOOP was recognized by the Korea Exchange as a KOSDAQ Market Disclosure Excellent Company for its proactive approach to corporate explanation.
- “AfreecaTV At Work!,” a Live Broadcast of SOOP’s Interaction with Users
-
Through the ‘AfreecaTV At Work!’ content, SOOP communicates with users in real-time about updates to the platform and immediately reflects their feedback to improve the platform. Instead of simply announcing plans for future platform updates, the content explains the intentions and status of the service in detail to help users understand the process. In addition, the ‘Quick Apology of the Day’ section, which has been well-received as a fresh concept by users, responds quickly to user complaints and shares the current situation transparently. In this way, SOOP aims to continue to develop its platform through innovative and faithful user-centered communication methods.
- User/Streamer Meetings
-
SOOP has held monthly online user meetings since 2018 to communicate with users. In 2023, we had a total of 12 online user meetings to openly listen to user voices and seek ways to improve our services. In addition, since 2019, we have conducted ‘On-site User Meetings’ to directly communicate with high school students.
For streamers, since 2016, we have held quarterly meetings to listen to and consider various opinions from streamers about the platform. Additionally, we hold meetings for each category group to collect detailed feedback from streamers specialized in each type of content.
- Employee Communication Content, eTown Hall Meetings
-
SOOP hosts quarterly eTown hall meetings for all employees, including the CEO, to freely share their opinions on key issues of SOOP. The eTown hall meetings focus on quarterly business performance and plans for the next quarter, and allow employees to communicate directly with the CEO. The CEO actively interacts with employees by answering their questions in real-time via chatting, and employees can use the platform’s features of gift economy to have a better understanding of SOOP.
Distribution of Economic Values
-
- Distribution to Streamers
- (Unit: KRW Million)
2021 346,3242022 388,0802023 476,068As a global leader in the ‘donation-based economy’ business model, SOOP contributes to indirect economic value creation by redistributing the revenue generated through the donation-based economy business model to its streamers.
-
- Dividend
- (Unit: KRW Million)
2021 8,0472022 7,9632023 9,115As part of our capital management, SOOP implements stable dividends, and we allow shareholders to directly decide on dividend distributions during shareholders’ meetings to protect shareholders’ rights and enhance shareholder value through a shareholder-friendly dividend policy.
-
- Employee Compensation and Incentives
- (Unit: KRW Million)
1) Sum of salaries, benefits, stock compensation expense and retirement benefits for employees, on a consolidated basis.2021 50,7672022 63,0142023 77,456SOOP strives to enhance the company’s revenue and profitability through mutual growth with our employees, providing appropriate welfare and compensation. The symbiotic relationship with our employees within the workplace extends to regional mutual growth, indirectly contributing to the local community’s economy.
-
- Tax Payment
- (Unit: KRW Million)
2021 18,1252022 23,0602023 21,450SOOP fulfills a duty of good faith and responsibility as a taxpayer and indirectly contributes to the growth of the economy and community.
