South Korean tech tycoon Brian Kim (Kakao Corp. founder) indicted on stock manipulation charges related to SM Entertainment acquisition.

South Korean tech tycoon and Kakao Corp. founder Kim Beom-su, known as Brian Kim, has been indicted on stock manipulation charges related to his acquisition of K-pop agency SM Entertainment. Kim, who founded internet giant Kakao, allegedly directed executives to buy large amounts of shares in SM Entertainment to inflate its stock price and undermine a competing offer from rival agency Hybe. This case has sent shockwaves through South Korea's technology industry, making Kim the most high-profile tech executive to be placed behind bars in the country. Kim's legal battle has also raised concerns about the future of up-and-coming innovators as they challenge the country's conglomerates.

August 08, 2024
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