SEOUL, Jul. 23 (Korea Bizwire) — The founder of South Korean tech giant Kakao Corp. was arrested Tuesday on charges of stock price manipulation related to the firm’s takeover of K-pop powerhouse SM Entertainment last year, prosecutors said. The Seoul Southern District Court issued an arrest warrant for Kim Beom-su after holding a hearing, which [...]
SEOUL, Jul. 22 (Korea Bizwire) — Kim Beom-su, the founder of Kakao Corp., was to attend a court hearing Monday on an arrest warrant requested for him over alleged stock price manipulation related to the firm’s takeover of K-pop powerhouse SM Entertainment last year. The Seoul Southern District Court was scheduled to hold a hearing [...]
SEJONG, Apr. 18 (Korea Bizwire) – The Fair Trade Commission of South Korea has launched an investigation into allegations that the online game “Night Crows” manipulated the probabilities of obtaining in-game items. According to industry sources, the commission dispatched investigators to the headquarters of WeMade, the game’s developer, in Seongnam, Gyeonggi Province, to secure data related [...]
SEOUL, June 15 (Korea Bizwire) — Doubts have been raised about possible manipulation of the national lottery drawing results after the number of first prize winners hit a record high last week. To address such doubts, the finance ministry, which oversees the Korea Lottery Commission, have been scrambling to explain the anomaly. The national lottery, named [...]
SEJONG, Oct. 6 (Korea Bizwire) — South Korea’s antitrust regulator on Tuesday accused Naver Corp., the nation’s biggest search engine, of manipulating search algorithms in favor of the company’s online shopping site and imposed a 26.7 billion-won (US$22.9 million) fine. The fine, announced by the Korea Fair Trade Commission (KFTC), is the nation’s first that [...]