South Korea's Kakao wins acquittal in SM Entertainment stock-manipulation case
By Jenny Lee ( October 21, 2025, 08:13 GMT | Insight) -- South Korean tech giant Kakao and its founder were acquitted of criminal charges that they interfered with SM Entertainment’s stock price during a heated 2023 takeover battle with HYBE, dealing a significant blow to prosecutors. The Seoul Southern District Court on Tuesday cleared Kakao, Kakao Entertainment, founder Kim Beom-su, former Chief Investment Officer Bae Jae-hyun and others of stock manipulation charges under the country's Capital Markets Act.South Korean tech giant Kakao and its founder were acquitted of criminal charges that they interfered with SM Entertainment’s stock price during a heated 2023 takeover battle with HYBE, dealing a significant blow to prosecutors....
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