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Kakao's K-Cube Holdings triumphs in legal battle against South Korean competition regulator

By Jenny Lee ( December 11, 2023, 04:08 GMT | Insight) -- K-Cube Holdings, a financial and insurance arm of South Korea’s tech giant Kakao, has successfully reversed a sanction decision imposed by the country’s antitrust regulator last year for allegedly violating competition law through its shareholder voting practices. According to court documents seen by MLex, the Seoul High Court on Dec. 7 ruled in favor of K-Cube Holdings, annulling a corrective order by the Korea Fair Trade Commission — a prohibition order that barred the company from exercising voting rights for its shares in Kakao and Kakao Games.K-Cube Holdings, a financial and insurance arm of South Korea’s tech giant Kakao, has successfully reversed a sanction decision imposed by the country’s antitrust regulator last year for allegedly violating competition law through its shareholder voting practices....

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