Kim Beom-su, chairman of Kakao's Management Innovation Committee, who is on trial for alleged 'SM price manipulation,' will be able to continue his trial without detention.
Kim Beom-su, Chairman of Kakao's Management Innovation Committee, on trial for stock price manipulation charges against SM Entertainment. Photo by Heo Young-han
According to the legal community on the 24th, the Seoul High Court Criminal Division 20 (Chief Judge Hong Dong-gi, joined by Lee Bong-min) dismissed the prosecution's appeal to revoke the bail decision for Chairman Kim the day before.
Chairman Kim was detained on July 23 and indicted on August 8. During the first trial, he applied for bail and was released on October 31, 100 days after his detention.
The prosecution appealed the court's decision on the 6th of last month, arguing that Chairman Kim might attempt to influence key witnesses in the trial, but the appeal was not accepted.
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