South Korea Internet Giant Kakao Corp Appoints Head of Kakao Ventures Shina Chung as New CEO in Ongoing Regulatory Crisis, Kakao Chief Investment Officer Jae-Hyun Bae Arrested in October 2023 for Stock Price Manipulation in Acquisition of K-Pop Agency SM Entertainment in March 2023, Kakao Corp Investigated for Suspected Stock Market Manipulation & Complaints of Forming Monopoly
16th December 2023 | Hong Kong
South Korea internet giant Kakao Corp has appointed Head of Kakao Ventures (Venture Capital) Shina Chung as the new CEO in ongoing regulatory crisis, with Kakao Chief Investment Officer Jae-Hyun Bae arrested in October 2023 for stock price manipulation in acquisition of K-pop agency SM Entertainment in March 2023 and Kakao Corp being investigated for suspected stock market manipulation & complaints of forming monopoly. Shina Chung had joined Kakao Ventures in 2014. In 2022 March, South Korea billionaire & founder of Kakao Corp Brian Kim Beom-Su stepped down from Kakao Board after news report of him being involved in $740 million of tax evasion in 2014, alongside recent regulatory criticism of Kakao Group attempting to form a monopoly and public criticism of top executives selling their shares after a successful Kakao IPO. Kakao is South Korea’s top messaging app and a social media & fintech giant with a market capitalisation of $17 billion (15/12/23).
” South Korea Internet Giant Kakao Corp Appoints Head of Kakao Ventures Shina Chung as New CEO in Ongoing Regulatory Crisis, Kakao Chief Investment Officer Jae-Hyun Bae Arrested in October 2023 for Stock Price Manipulation in Acquisition of K-Pop Agency SM Entertainment in March 2023, Kakao Corp Investigated for Suspected Stock Market Manipulation & Complaints of Forming Monopoly “
South Korea Internet Giant Kakao Corp Appoints Head of Kakao Ventures Shina Chung as New CEO in Ongoing Regulatory Crisis
South Korea Billionaire & $39 Billion Kakao Corp Founder Brian Kim Quits Board, News Report of Police Investigation of $740 Million Tax Evasion in 2014
19th March 2022 – South Korea billionaire & founder of Kakao Corp Brian Kim Beom-Su has stepped down from Kakao Board after news report of him being involved in $740 million of tax evasion in 2014, alongside recent regulatory criticism of Kakao Group attempting to form a monopoly and public criticism of top executives selling their shares after a successful Kakao IPO. Kakao is South Korea’s top messaging app and a social media & fintech giant with a market capitalisation of $39 billion (18/3/22).
Brian Kim Beom-Su, Kakao Founder
(In 2021) Kakao Corporation founder Brian Kim Beom-Su is South Korea’s richest man with more than $16 billion personal fortune (June 2021) and has pledged to give more than half his assets away through The Giving Pledge founded by Microsoft chairman Bill Gates and his then-wife Melinda Gates along with Berkshire Hathaway chairman Warren Buffett with a total of 40 billionaires.
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