News > Tech firm Kakao's founder arrested over alleged stock manipulation

Tech firm Kakao's founder arrested over alleged stock manipulation

Seoul Southern District Court issued an arrest warrant for Kim Beom-su after holding a hearing, which came weeks after prosecutors questioned the tycoon. The case centres on suspicions that the mobile platform-to-entertainment conglomerate and its executives manipulated SM stock prices during a bidding war it won in February last year against Hybe, the parent company of K-pop superband BTS' management agency BigHit, over the takeover of SM.