"Sell my house, pay lifetime rent for 100 employees": Toss CEO's April Fools' Day 'pledge'

[The Financial News] An April Fools' Day notice posted by Lee Seung-gun, CEO of Viva Republica (Toss), is drawing attention. The internal announcement contained an eye-catching pledge: he would sell his house and use the proceeds to cover rent and interest payments for 100 Toss employees.
According to industry sources on the 1st, Lee posted a long message on the company’s internal messenger. He wrote, "As I was hoping and thinking about an optimistic future for our community, I found the courage to finally act on an idea I’ve had for a long time, so I decided to share it now."
In the post, Lee stated, "Even before I founded the company, I felt a strong sense of injustice about a world where some people make huge profits from real estate while others struggle to survive because of housing costs." He continued, "I plan to sell the home I currently live in, which I own in my personal name, and use the profit from that sale to fully cover the rent and interest payments for 100 Toss team members for the rest of their lives."
He went on, "If you are currently paying monthly rent or loan interest, please enter your personal details at the link by 9 p.m. on the 1st. We will then randomly draw 100 people." He added, "The drawing will be completely random, and the winners will be announced before midnight tonight."
He also noted, "Even if you already own real estate, you are eligible as long as you are paying interest. However, if you are not paying any loan interest or monthly rent, please do not apply, as we will not be able to provide support even if you are selected."
Lee emphasized once again, "For Toss employees who are selected, I will fully cover their monthly rent or loan interest until they own a home of their own." Within Toss, it is reportedly still unclear whether Lee actually intends to carry out what was written in the notice.
A Toss official commented, "He does post a message around this time every year, but we cannot say for sure whether this is an April Fools' Day event." The official added, "However, judging from past cases, he has often used April Fools' Day as an occasion to express his gratitude to colleagues."
In fact, in 2022 Lee announced that he would give away 20 Tesla cars, then selected 10 employees and provided them with free use of the vehicles for a year. Last year, he also drew 100 employees and sponsored a group trip to Okinawa Prefecture, Japan.
bng@fnnews.com Reporter Kim Hee-sun Reporter