Kakao founder summoned for questioning
![Kakao founder Kim Beom-su appears before the Financial Supervisory Service on Monday for questioning, following the firm's alleged stock manipulation to acquire SM Entertainment earlier this year. [YONHAP]](https://koreajoongangdaily.joins.com/data/photo/2023/10/23/eb837319-bfe4-4d3b-8809-904d009a8f7a.jpg)
Kakao founder Kim Beom-su appears before the Financial Supervisory Service on Monday for questioning, following the firm's alleged stock manipulation to acquire SM Entertainment earlier this year. [YONHAP]
Kakao founder Kim Beom-su appeared before the Financial Supervisory Service (FSS) on Monday after being summoned for questioning regarding his involvement in the firm’s alleged stock manipulation to acquire SM Entertainment earlier this year.
In response to whether he admitted to the stock manipulation charges, Kim responded that he will “faithfully cooperate with the investigation.”
Kakao’s shares dropped 2.82 percent to 37,950 won on Monday as the trading session closed, having plummeted to 37,850 won during the trading session, a 52-week low.
BY KIM JU-YEON, YONHAP [kim.juyeon2@joongang.co.kr]
with the Korea JoongAng Daily
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