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South Korean court clears Kakao founder of stock manipulation charges
Yahoo Financeยท 2025-10-21 02:42
By Heekyong Yang and Heejin Kim SEOUL (Reuters) -A South Korean court on Tuesday cleared Kakao Corp's billionaire founder Kim Beom-su of stock manipulation charges, sending shares of the country's dominant chat app operator 5% higher. The tech tycoon was arrested in July last year on charges of being involved in manipulation of the stock price of SM Entertainment in 2023 to hinder a competitor, Hybe, from acquiring it. He was released on bail in October 2024. In August, prosecutors had sought a 15-year ...