Prosecutors seek arrest warrant for Kakao founder over suspected stock manipulation
Social affairsJul 17, 2024
Prosecutors on Wednesday requested an arrest warrant for Kim Beom-su, the founder of Kakao Corp., on charges of involvement in suspected illegal stock manipulation during the tech giant’s acquisition of K-pop powerhouse SM Entertainment last year. The Seoul Southern District Prosecutors Office filed a warrant for Kim over allegations of violating the Financial Investment Services and Capital Markets Act. The move comes a week after prosecutors grilled Kim for about five hours on suspicions