The Financial Supervisory Service, which investigates suspicions of SM Entertainment stock price manipulation, today summoned Kakao founder Kim Beom-soo, former chairman of the board of directors, for questioning.
The Special Judicial Police of the Financial Supervisory Service notified former Chairman Kim Beom-soo to appear at 10 am today following a search and seizure of his office last August.
The Financial Supervisory Service’s special envoy is expected to conduct an intensive investigation into former Chairman Kim to determine whether he received any instructions or reports regarding the suspicions of SM Entertainment’s market manipulation.
Kakao is suspected of intentionally raising SM’s stock price during the competition with Hive to acquire SM management rights in February for the purpose of hindering Hive’s tender offer.
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2023-10-22 15:03:00
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