Founder of South Korea's Kakao arrested for suspected stock manipulation
SEOUL (Reuters) -South Korean authorities arrested Kim Beom-su, the billionaire founder of tech giant Kakao Corp on Tuesday, on accusations of manipulating stocks during the acquisition of a K-Pop agency last year. It is the latest legal twist for Kakao, which runs South Korea's largest chat app, after the company and another executive went on trial last year, accused of wrongdoing during the acquisition. Founder Kim, also known as Brian Kim, is seen as a visionary in South Korea's digital industry for building from the ground up the Kakao group, worth 86 trillion won ($62 billion) by assets, since the chat app launched in 2010.