08
Aug
South Korean prosecutors have indicted Kakao Corp. founder Brian Kim on charges of stock manipulation, kicking off a watershed case that’s transfixed South Korea’s young internet industry.Prosecutors formally charged the entrepreneur with market violations during his company’s takeover battle for SM Entertainment Co., Yonhap news service reportedBloomberg Terminal Thursday. Kim was allegedly involved with an attempt to buy and push SM stock above a rival offer of 120,000 won ($87) from BTS-agency Hybe Co., the agency reported. Executives carried out that alleged maneuver over a total of four days, in mid-February 2023 as well as later that month, Yonhap said,…