Kim Beom-su

Kim was arrested in July 2024 and indicted in August for allegedly orchestrating purchases of SM Entertainment shares above 120,000 won in February 2023 to prevent Hybe's takeover bid from succeeding. Prosecutors sought a fifteen-year prison sentence. On 21 October 2025, the first-instance court acquitted him, finding, among other things, that a key witness lacked credibility. Prosecutors appealed, and the case remained pending in 2026.

Attribution

Personally implicated

In December 2022, the Fair Trade Commission considered that K Cube Holdings, wholly owned by Kim, had unlawfully exercised voting rights in Kakao and Kakao Games when, according to the FTC, it should have been treated as a financial company. The FTC ordered corrective action and referred the company to prosecutors. Administrative courts subsequently annulled the decision, the Supreme Court confirmed that K Cube did not fall within the classification adopted by the FTC, and prosecutors closed the case without further action in May 2024.

Person targeted by the proceedings

K Cube Holdings

Role of the person profiled

Protagonist not prosecuted

In September 2023, Economic Democracy 21 filed a complaint against Kim and several Klaytn-linked executives, alleging that KLAY tokens sold before listing and distributed under various pretexts had been used or cashed out for insiders' benefit rather than for the project. The case was assigned to a joint cryptoasset investigation team and was still described as an ongoing investigation in 2024.

Attribution

Directly implicated

In 2023, the FTC issued Kim a warning concerning Kakao Group designation documents covering 2019–2021 that had omitted two companies owned by relatives and 27 family members. The case was separate from the omission of five affiliates in 2016.

State of the evidence

Documented

A civic group accused Kim and K Cube Holdings of evading a total of approximately 8.863 trillion won in taxes during the 2014 Daum-Kakao merger by treating gains from the share exchange as mere valuation gains. In 2022, tax authorities concluded that taxes had been correctly declared and paid. In January 2023, police also decided not to refer the case for prosecution, finding no evidence of an accounting or tax offence.

Attribution

Directly implicated

A fire at SK C&C's Pangyo data centre caused a massive outage affecting KakaoTalk and numerous Kakao services for several days. The incident triggered nationwide criticism of inadequate redundancy, backups and recovery plans for a service regarded as essential digital infrastructure. Kim was summoned before the National Assembly and apologised.

State of the evidence

Documented

Attribution

Direct responsibility

In 2021, Kakao's rapid expansion into taxis, beauty services, flowers, professional services and other local markets prompted a strong political reaction against what was described as a "tentacular" expansion strategy. Kim Beom-su was summoned before the National Assembly and apologised for how the group had grown and the loss of public trust.

State of the evidence

Documented

Attribution

Direct responsibility

K Cube Holdings, wholly owned by Kim and a major Kakao shareholder, became the subject of controversy when his two children were employed there and received substantial gifts of shares in family-linked companies. Observers suspected succession planning or use of the personal company as a family control vehicle.

State of the evidence

Reported by the press

Legal status — source text

No legal proceedings

Attribution

Direct responsibility

Kim Beom-su was prosecuted after Kakao omitted five affiliated companies from documents submitted to the Fair Trade Commission in 2016. A summary penalty of 100 million won was initially imposed, but Kim requested a trial. The first-instance and appellate courts acquitted him, finding no proof of intent to conceal the companies, and the Supreme Court upheld his acquittal in February 2020.

Attribution

Personally implicated

Course of the proceedings

1. Formally charged — Formal charge before the current outcome