Korea Seeks to Arrest Kakao Founder in Price-Rigging Case
This article is for subscribers only.
South Korean prosecutors are seeking an arrest warrant for billionaire Kakao Corp. founder Brian Kim, a surprise twist in their ongoing investigation into alleged stock market manipulation.
The Seoul Southern District prosecutors’ office is seeking to detain the celebrated entrepreneur after conducting a probe into alleged price-rigging that took place during a bidding war over SM Entertainment Co. in 2023. A spokesperson for the office confirmed it has asked courts to issue an arrest warrant over charges related to the capital markets law, but declined to comment further.