South Korean prosecutors asked an appeals court to sentence Kakao founder Kim Beom-su to 15 years in prison over alleged stock price manipulation during Kakao’s acquisition of SM Entertainment. They also requested a fine, reported at 510 million won ($377,000) in the latest account, compared with 500 million won in the earlier appellate case summary, and newly added a forfeiture demand of approximately 127.2 billion won that was not part of the earlier proceedings. Kakao Corporation and Kakao Entertainment face requested fines of 500 million won each and confiscation of approximately 68.6 billion won. Prosecutors also sought 12 years for Bae Jae-hyun, former head of Kakao’s investment division, and nine years for Kim Sung-soo, former head of Kakao Entertainment, alongside fines and confiscation orders. Kim and the other defendants were acquitted at trial, which found that Kakao’s large-scale on-market purchases did not amount to market manipulation without additional evidence of intent. Kim was arrested in July 2024, released on bail in October 2024 and has denied ordering or tolerating illegal activity. The appeals court is expected to rule at a later date.