South Korean authorities have issued an arrest warrant for Kakao founder Brian Kim over allegations of market manipulation, setting the stage for him to become the most prominent business figure in the country to wind up in jail in years.
The Seoul Southern District Court issued a warrant for the arrest of the 58-year-old internet entrepreneur, citing "concerns of evidence destruction and flight.”
Kim, celebrated for creating a messaging and social-media platform that linked online services from banking to webtoons, is facing accusations that he was involved in a stock-rigging scheme during the high-profile takeover of SM Entertainment in 2023.