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Kakao Founder Cleared of Stock Manipulation Charges, Shares Surge

Kakao Founder Cleared of Stock Manipulation Charges, Shares Surge

Author:

Global Cryptocurrency

Published:

2025-10-21 09:38:01

17

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BTCCSquare news:

A South Korean court dismissed stock manipulation charges against Kakao founder Kim Beom-su, triggering a 6% rally in the company's shares to 62,300 KRW. Prosecutors had sought a 15-year prison term and a $350,000 fine over alleged interference in Hybe's attempted acquisition of SM Entertainment.

Kim's release on bail last October marked a turning point for Kakao, whose ecosystem—spanning messaging, gaming, and fintech—controls 94 trillion won ($66 billion) in assets. The ruling removes a key overhang for Korea's dominant digital platform as it seeks to regain investor confidence.

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