Korea Joongang Daily
Korea JoongAng Daily

Kakao founder Kim Beom-su granted bail request over SM Entertainment scandal

Kakao founder Kim Beom-su has been granted bail at 300 million won amid an ongoing investigation into price rigging for SM Entertainment.

2024-10-31

Kakao founder Kim Beom-su appears in court for SM Entertainment stock scandal

Kakao founder Kim Beom-su attended a court hearing on Monday regarding a requested warrant for his arrest on allegations of stock price manipulation.

2024-07-22

Kakao’s Kim Beom-su faces arrest warrant over alleged SM Entertainment stock manipulation

Prosecutors have filed an arrest warrant for Kakao founder Kim Beom-su, alleging that he manipulated SM Entertainment’s stock last March when Kakao became the largest shareholder of the K-pop agency by acquiring a 39.87 percent stake.

2024-07-17

Kakao founder's inner circle is source of company trouble, employees say

Kakao founder Kim Beom-su's close-knit group of aides is causing regulator risks for Kakao, critics say. Kim has promised a complete overhaul of the company's management structure and corporate culture.

2023-12-11

Kakao founder vows to reform company

Kakao founder Kim Beom-su plans to shake up the company's management system following President Yoon Suk Yeol's criticism of its monopolistic practices. Kim aims to reevaluate the company's practices and announce solutions by the end of this year.

2023-11-13

[NEWS IN FOCUS] Kakao founder probe sends shock waves across affiliates

With the founder of Kakao under investigation for alleged stock manipulation, the regulatory risk has reverberated across other affiliates such as Kakao Bank and Kakao Mobility.

2023-10-24

Kakao founder summoned for questioning

Kakao founder Kim Beom-su has been summoned for questioning over alleged stock manipulation to acquire SM Entertainment. Shares dropped to a 52-week low.

2023-10-23

FSS summons Kakao founder over alleged stock manipulation in SM takeover

Kakao's executives are suspected of injecting 240 billion won ($176.6 million) to purchase shares of SM Entertainment to inflate the shares' price to win the bidding war against HYBE over the agency.

2023-10-20

FSS raids Kakao founder's office over alleged stock manipulation

The financial authorities on Thursday raided the office of Kakao founder Kim Beom-su on allegations of manipulating the stock price of SM Entertainment. The market watchdog suspects Kim and other senior executives of Kakao took part in swinging SM...

2023-08-10

Kakao admits mistakes in server outage and shifts blame

Kakao's CEO described to the National Assembly on Monday the rookie mistake that took down 32,000 of the company's servers and with them what has become critical national infrastructure. He also shifted blame for the outage to SK C&C, operator of ...

2022-10-24