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[Alpha Biz=(Chicago) Reporter Kim Jisun] Prosecutors investigating Kakao's "alleged acquisition of a high-priced drama production company" on the 24th summoned Kakao Entertainment CEO Kim Sung-soo and Lee Joon-ho, head of the investment strategy division, as suspects.

According to legal circles, the Financial Investigation Department 1 (Chief Prosecutor Kwon Chan-hyuk) at the Seoul Southern District Prosecutors' Office summoned Kim and Lee earlier in the day to investigate the process of acquiring the drama production company "BARAM PICTURES."

Kakao acquired BARAM PICTURES for 20 billion won in 2020, when BARAM PICTURES had been in an operating deficit for years and had only 100 million won in capital. In response, CEO Kim and Lee are suspected of causing damage to the company by purchasing BARAM PICTURESs excessively higher than the market price.

BARAM PICTURES is a company where actor Yoon Jung-hee, the wife of Lee, invested and was a major shareholder. Prosecutors suspect that Lee colluded with Kim with the aim of driving market profits to BARAM PICTURES.

 

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