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Technology

Founder of South Korea’s Kakao arrested over alleged stock price rigging

Kakao Brian Kim SM Entertainment South Korea Entertainment

Kim Beom-su, founder of South Korean internet company Kakao, in a Seoul court on July 22 [Yonhap via AFP]

The founder of South Korea’s Kakao Corp has been arrested on suspicion of rigging the tech giant’s stock price during its acquisition of K-pop juggernaut SM Entertainment.

Seoul Southern District Court issued the arrest warrant for Kim Beom-su on Tuesday, citing the possibility he could try to flee or destroy evidence.

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