Copyright Reuters
SEOUL, Oct 21 (Reuters) - A South Korean court on Tuesday cleared Kakao Corp (035720.KS), opens new tab founder Kim Beom-su of stock manipulation charges, Yonhap news agency reported, citing a court official. In August, prosecutors had sought a 15-year jail term and a fine of 500 million won ($350,000) in August. Sign up here. Kim was arrested in July last year on charges of being involved in manipulation of the stock price of SM Entertainment (041510.KQ), opens new tab in 2023 to hinder a competitor, Hybe (352820.KS), opens new tab, from acquiring it. He was released on bail in October 2024. ($1 = 1,421.4800 won) Reporting by Heekyong Yang and Heejin Kim; Editing by Tom Hogue
