Founder of South Korea's Kakao arrested for suspected stock manipulation

Billionaire Founder of South Korean Tech Giant Arrested for Stock Manipulation #

The billionaire founder of South Korean tech giant Kakao Corp has been arrested on allegations of manipulating stocks during the acquisition of a K-Pop agency in 2021. This is the latest legal development for Kakao, which runs South Korea’s largest chat app, as another executive and the company itself faced trial last year for alleged wrongdoing during the same acquisition. The founder, known as Brian Kim, is seen as a visionary in the country’s digital industry. Any case against him could potentially impact Kakao’s investments in artificial intelligence and its plans for international expansion.