Kakao billionaire arrested in K-pop market manipulation case

Quick Summary:

South Korean authorities have arrested Kakao Corp founder Brian Kim over allegations of market manipulation, making the Internet entrepreneur the most prominent business figure in the country in years to wind up in jail.

The Korean conglomerate may have to cut its stake in the online fintech affiliate – making room for other investors – if the courts find Kim guilty.

Shares in Kakao, which have fallen by about a quarter this year, slid as much as 5.4% in Seoul on Tuesday.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaSouth Korea

Topics: Technology Internet Courts Crime /Tech/Tech News

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-23 @ 12:00:00 (2 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 735 words

Reading Time: 5 minutes read

Sentences: 35 lines

Sentence Length: 21 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 21744295

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About The Star

Main Topics: EconomyBusiness

Official Website: thestar.com.my

Update Frequency: 53 posts per day

Year Established: 1971

Headquarters: Malaysia

News Last Updated: 47 minutes ago

Coverage Areas: Malaysia

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #22

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