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[Alpha Biz= Reporter Kim Jisun] The prosecution, which is looking into Kakao's alleged market manipulation in the course of SM Entertainment's management dispute, said it needs to investigate Kim Bum-soo, founder of Kakao and head of the Mirae Initiative Center.

An official at the Seoul Southern District Prosecutors' Office met with reporters on the afternoon of the 16th and said, "We need to investigate Kim, the head of the center, in connection with Kakao's alleged price manipulation."

"The investigation is under way according to the procedures regarding market price manipulation, and all of them are included in the investigation list, so Kim is also a person who needs to be investigated," the official said. However, he declined to comment, saying, "It is difficult to answer clearly about the timing of Kim's summons because there are many things to check."

It has been confirmed that no investigation has been conducted on former Kakao CEO Hong Eun-taek (61) and Kakao Entertainment CEO Kim Sung-soo (62) regarding Kakao's alleged manipulation of the market price.

Currently, Bae Jae-hyun (44), head of Kakao's investment division, is currently on trial in the Seoul Southern District Court over allegations of price manipulation.

In addition, the Seoul Southern District Prosecutors' Office is conducting a total of four investigations related to Kakao, including allegations of SM market price manipulation, the alleged high-priced acquisition of a drama production company by Kakao Entertainment, driving Kakao Mobility's calls, and embezzlement and breach of trust by executives of Kakao's blockchain platform Klaytn affiliates.

 

 

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