{
  "id": 9320277,
  "title": "15-year prison term sought for Kakao founder in SM stock case",
  "url": "https://urgent.news/2026/09/23/15-year-prison-term-sought-for-kakao-founder-in-sm-stock-case",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-23T11:12:03.000Z",
  "source": {
    "name": "The Korea Times",
    "slug": "the-korea-times-koreatimes",
    "url": "https://www.koreatimes.co.kr/southkorea/law-crime/20260923/15-year-prison-term-sought-for-kakao-founder-in-sm-stock-case"
  },
  "original_language": "en",
  "account": "Prosecutors have petitioned a Seoul High Court to impose a 15-year prison sentence, along with a 500 million won fine, on Kakao founder Kim Beom-su. This request stems from the alleged involvement of Kim in inflating the stock price of SM Entertainment during a heated 2023 takeover battle for the K-pop agency. The final hearing at the Seoul High Court saw prosecutors advocating for a 12-year prison term and a 500 million won fine for Bae Jae-hyun, Kakao's former chief investment officer. Additionally, fines of 500 million won each were sought for both Kakao and Kakao Entertainment. The charges against Kim and other defendants allege that they maintained SM Entertainment's share price above HYPE's tender-offer price in February 2023, in an attempt to hinder the rival entertainment company's acquisition attempt. Prosecutors argue that the lower court improperly assessed evidence and misapplied the law, urging the appellate court to overturn the decision.",
  "summary": "Prosecutors sought a 15-year prison term for Kakao founder Kim Beom-su, Wednesday, during an appeal over his alleged involvement in inflating SM Entertainment's stock price during a fierce 2023 takeover battle for the K-pop agency. In a final hearing at the Seoul High Court, prosecutors asked the court to sentence Kim, head of Kakao’s Future Initiative Center, to 15 years in prison and impose a…",
  "key_points": [
    "Seoul High Court seeks 15-year prison for Kakao founder Kim Beom-su",
    "Prosecutors charge inflated SM Entertainment stock price in 2023 battle",
    "Fines of 500 million won each for Kakao, Kakao Entertainment"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "The Korea Times",
        "title": "15-year prison term sought for Kakao founder in SM stock case",
        "url": "https://urgent.news/2026/09/23/15-year-prison-term-sought-for-kakao-founder-in-sm-stock-case-9324330",
        "published": "2026-09-23T11:37:03.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}