Kakao Founder Faces 15-Year Sentence Over Stock Manipulation Allegations

South Korea prosecutors seek 15-year jail term for Kakao founder Kim

Kim was accused of being involved in manipulating the stock price of SM Entertainment. Read more at straitstimes.com.

Kakao Founder Faces 15-Year Sentence Over Stock Manipulation Allegations

South Korean prosecutors have requested a 15-year prison sentence for Kakao founder Kim Beom-su on charges of stock manipulation during the acquisition of a K-Pop agency. Kim, who denies the allegations, is accused of meddling in SM Entertainment’s stock to prevent its acquisition by a rival company.

15-year prison term sought for Kakao head Kim Beom-su

Prosecution on Friday sought a 15-year prison term for Kakao founder Kim Beom-su for allegedly attempting to manipulate the price of SM Entertainment’s stock in February 2023, during Kakao’s acquisition of the K-pop management agency. During a hearing session at Seoul Southern District Court, prosecutors sought the prison term and 500 million won ($360,000) in fines for Kim, under suspicion for ordering Kakao Group executives to manipulate SM En…

Prosecutors seek 15 years in prison for Kakao founder over SM acquisition

Prosecutors have requested a 15-year prison sentence for Kim Beom-su, founder of Kakao and chair of its management innovation committee, alleging that he conspired to manipulate stock prices in a bid to block HYBE's takeover of SM Entertainment.