$MASKS

Kakao Founder Kim Bum-soo Arrested for Alleged Price Manipulation

Kim Bum-soo, founder of South Korean Internet giant Kakao, was arrested by South Korean authorities on suspicion of price manipulation in the acquisition of K-pop agency SM Entertainment. This acquisition battle should have consolidated Kakao's dominance in markets such as music, shopping and ride-hailing, but it has triggered a series of regulatory issues. Kim Bum-soo's arrest marks South Korea's strict regulatory attitude towards corporate leaders, casting a shadow on his otherwise brilliant entrepreneurial career