Core Points - A South Korean court cleared Kakao Corp's founder Kim Beom-su of stock manipulation charges, resulting in a 5% increase in Kakao's shares [1][3] - Kim was previously arrested in July 2023 for allegedly manipulating the stock price of SM Entertainment to obstruct competitor Hybe's acquisition efforts [1][2] - The ruling is seen as reducing legal risks for Kakao, as Kim was cleared of all charges, although the case may still proceed to the Supreme Court [3] Company Overview - Kakao is the largest messaging app in South Korea, with nearly 50 million users and diversified businesses including gaming, shopping, banking, and taxi-hailing [3] - The company is valued at approximately 94 trillion Korean won ($66.13 billion) in assets, reflecting its significant market presence [2] Shareholder Impact - Kim Beom-su is the largest shareholder of Kakao Corp, holding a 24% stake, which is crucial for the company's governance and strategic direction [4] - The outcome of the case was critical as a conviction could have limited his ability to maintain control over KakaoBank, given financial regulations [4]