South Korea prosecutors seek 15-year jail term for Kakao founder Kim
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Kakao Corp founder Brian Kim leaves the Seoul Southern District Court on Aug 29.
PHOTO: BLOOMBERG
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SEOUL - South Korean prosecutors requested on Aug 29 a 15-year jail term for local tech giant Kakao founder Kim Beom-su, also known as Brian Kim, on stock manipulation charges, said an official at the Seoul Southern District Prosecutor's Office.
Kim was arrested on accusations of stock manipulation during the acquisition of a K-Pop agency, then released on bail in 2024.
He has denied the allegations, saying he never ordered or tolerated any illegal activity, the company said previously.
Kim was accused of being involved in manipulating the stock price of SM Entertainment in 2023
Prosecutors also sought a 500 million won (S$461,000) fine for Kim, the official said.
An official at the Seoul Southern District Court, which is due to make a ruling in the case, declined to comment on Aug 29.
Kim is seen as a visionary in South Korea's digital industry for building Kakao's group of affiliates - worth 86 trillion won by assets - from the ground up since launching the popular messaging app KakaoTalk in 2010. REUTERS
