Kim Beom-su, the founder of the mobile platform giant Kakao, was set to be referred to the prosecution Wednesday over alleged stock price manipulation in connection with the firm s takeover of a K-pop entertainment house.
In a stunning wrinkle in the fevered battle between Kakao Corp. and HYBE for a controlling stake in K-pop company SM Entertainment, Kakao’s chief investment…
Kakao founder Kim Beom-su said he will review the entirety of the platform giant's services and businesses, including management personnel, from the ground up, ahead of an emergency management meeting held earlier Monday. "(We will) aim to become a company that meets the public's standards by reassessing all of (Kakao's) services and businesses," Kim told reporters at Kakao Mobility's he.
Prosecutors indicted the chief investment officer of South Korean platform giant Kakao Corp. on Monday over alleged stock manipulation in a high-profile battle to take over K-pop powerhouse SM Entertainment Co. Bae Jae-hyun will stand trial on charges of inflating the price of SM Entertainment shares in violation of the Capital Market Act, with the intent to undermine a tender offer from rival bidder Hybe during the .