After seeing double-digit growth in South Korea, Uber Technologies has announced a strategic plan to double down in the country — directly challenging market leader Kakao Mobility, the ride-hailing unit majority-owned South Korean messaging and tech giant Kakao. Uber chief executive officer Dara Khosrowshahi outlined the plans in a press conference in Seoul, where he […]
Kakao founder arrested over alleged market manipulation
Brian Kim, the founder of South Korean internet giant Kakao, was arrested Tuesday on allegations of stock price manipulation related to the company’s takeover of K-pop agency SM Entertainment in 2023. The Seoul Southern District Court said on Tuesday that it had issued a warrant for Kim’s arrest after a hearing on Monday due to […]
Korean prosecutors file warrant to arrest Kakao founder for stock manipulation
South Korean prosecutors said on Wednesday that they have filed an arrest warrant for Brian Kim, the founder of Korean internet giant Kakao, as part of an investigation into alleged stock market manipulation related to a high-profile bidding war for SM Entertainment, one of the country’s biggest music labels, in 2023. The warrant comes a […]
Archer, Kakao Mobility partner to bring electric air taxis to South Korea in 2026
Archer Aviation is partnering with ride-hailing and parking company Kakao Mobility to bring electric air taxi flights to South Korea starting in 2026, if the company can get its aircraft developed in time. The move to South Korea is part of an international strategy that will also see Archer commercially launch in the United Arab […]
BPM Entertainment Accuses Kakao Of Power Abuse Involving Affiliates Like SM Entertainment
Amidst the revived discussions about the conflicts between SM Entertainment (SM hereon) and Big Planet Made Entertainment (BPM hereon), the latter has accused Kakao Entertainment, which acquired the former in 2023, of power abuse. | KED Global | Yonhap According to reports, BPM submitted a report to the Fair Trade Commission in January stating that Kakao distribution charges have a […]