Wednesday, 23 September, 2026
South Korea Seek 15-Year Prison Term for Kakao Founder Kim Beom-su
By TechShots Studio
South Korean prosecutors requested a 15-year prison sentence and a 500 million won ($360,000) fine for Kakao founder Kim Beom-su during his appellate trial. Kim is accused of orchestrating a $170M+ stock manipulation scheme in 2023 to inflate SM Entertainment's stock price and thwart a rival takeover bid by K-pop rival HYBE. Defense attorneys deny all allegations, maintaining that the share purchases were standard, legal investments.
Read full story at REUTERS