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Kakao’s billionaire founder cleared in stock manipulation case
The Straits Times
|October 22, 2025
A South Korean court dismissed the stock manipulation case against Kakao Corp founder Brian Kim, clearing the billionaire of charges that marred his reputation as an internet pioneer.
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Prosecutors had sought a 15-year prison term and a 500 million won (S$454,500) fine for Mr Kim, accusing him of rigging the stock price of K-pop powerhouse SM Entertainment in a high-stakes acquisition battle with rival Hybe.
In its ruling on Oct 21, the Seoul Southern District Court said prosecutors did not provide sufficient evidence for their allegations and acquitted Mr Kim of the charges. The panel of three judges said it is difficult to conclude that Kakao’s purchase of SM shares was aimed at manipulating the market. The verdict was read out after a hearing that lasted a little over half an hour.
यह कहानी The Straits Times के October 22, 2025 संस्करण से ली गई है।
हजारों चुनिंदा प्रीमियम कहानियों और 10,000 से अधिक पत्रिकाओं और समाचार पत्रों तक पहुंचने के लिए मैगज़्टर गोल्ड की सदस्यता लें।
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