South Korea court to decide on arrest warrant for Kakao founder

SEOUL (Reuters) - A South Korean court began reviewing on Monday a prosecution request for a warrant to arrest Brian Kim, the billionaire founder of tech giant Kakao Corp, on accusations of stock manipulation during a 2023 acquisition. 

It is the latest legal twist for Kakao after the company and an executive went on trial last year for alleged wrongdoing during the same acquisition. 

Prosecutors say Kim was involved in manipulation of the stock price of SM Entertainment in February last year to hinder a competitor, Hybe, from acquiring the K-Pop agency.

Not yet formally charged, Kim has denied the accusations, saying he has never ordered or tolerated any illegal activity, the company said in a statement.

Full story at Yahoo News.