Bail for Kakao Founder: Sigh of Relief in South Korea's Tech Scene

A significant moment in the South Korean tech landscape: Kakao founder Kim Beom-su, also known as Brian Kim, has reportedly been granted bail by a South Korean court. The decision by the Seoul Southern District Court sheds new light on the recent legal turmoil surrounding the tech giant. Earlier this year, Kim was arrested on suspicion of stock manipulation related to the acquisition of a K-Pop agency. He strongly denies the allegations, emphasizing that he never ordered or tolerated illegal activities. This development is hardly the first challenge for Kakao, South Korea's largest chat app company. In the meantime, Kakao is determined to improve its corporate governance. The company faced criticism last year following charges against another of its executives for misconduct in the acquisition of SM Entertainment.