On July 23, 2024, around 1 a.m. KST, Korean media outlets reported that a warrant had been issued for the arrest of Kakao founder Kim Bum Soo for the manipulation of SM Entertainment stocks. Kim Bum Soo | Joongang He showed up at the South District Court in Yangcheon-gu, Seoul, in the afternoon on July […]
BPM Entertainment Accuses Kakao Of Power Abuse Involving Affiliates Like SM Entertainment
Amidst the revived discussions about the conflicts between SM Entertainment (SM hereon) and Big Planet Made Entertainment (BPM hereon), the latter has accused Kakao Entertainment, which acquired the former in 2023, of power abuse. | KED Global | Yonhap According to reports, BPM submitted a report to the Fair Trade Commission in January stating that Kakao distribution charges have a […]
Police Raids Kakao After Suspicions Of Stock Manipulation During The SM Entertainment Acquisition
Kakao and Kakao Entertainment were raided on April 6, 2023, by the Prosecutors and Financial Supervisory Service due to allegations of stock market manipulation. An investigation has begun to determine whether or not their mass stock acquisition was done under market price manipulation. Around 40 investigators and Financial Supervisory Service (FSS) special judicial police officers […]