South Korean Court Clears Kakao Founder Of Stock Manipulation Charges

A South Korean court on Tuesday (Oct 21) cleared Kakao Corp’s billionaire founder Kim Beom-su of stock manipulation charges, sending shares of the country’s dominant chat app operator 5 per cent higher. The tech tycoon was arrested in July last year on charges of being involved in manipulation of the stock price of SM Entertainment in 2023 to hinder a competitor, Hybe, from acquiring it. He was released on bail in October 2024.

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South Korean Court Clears Kakao Founder Of Stock Manipulation Charges

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