South Korea’s Fair Trade Commission is probing Kakao Group founder Kim Beom-su for alleged...

Kakao founder under FTC probe for failing to report properly on key affiliate – The Korea Herald

South Korea’s Fair Trade Commission is probing Kakao Group founder Kim Beom-su for allegedly failing to report properly on the company’s de facto holding company in violation of the country’s fair trade act. According to industry insiders on Monday, the antitrust watchdog recently conducted site investigations into Kakao and K Cube Holdings, after finding that Kakao may have left out necessary information or falsely reported about K Cube Holdings, an investment firm fully owned by Kim, over the past five years. The FTC designates conglomerates with assets of at least 5 trillion won ($4.45 billion) as large business groups that …

 

Read the full article here


-- END RSP MOD -->