Kim Beom-su, the founder of the tech giant Kakao Corp., was summoned by prosecutors on Tuesday to address allegations of stock price manipulation related to Kakao's acquisition of K-pop megacorp SM Entertainment last year. The Financial Investigation Division 2 of the Seoul Southern District Prosecutors' Office called in Kim to investigate alleged violations of the Financial Investment Services and Capital Markets Act. This comes after the Financial Supervisory Service transferred the case to the prosecution and suggested indicting Kim, marking his first appearance before the prosecution in eight months. The investigation centers on suspicions that Kakao and its executives manipulated SM stock prices during a bidding war with Hybe, the parent company of BTS' management agency BigHit, ultimately leading to Kakao's victory in February last year. Allegations suggest that SM shares were artificially driven above 120,000 won per share, the fixed price at which Hybe was acquiring shares from investors, resulting in Hybe withdrawing its takeover bid. If convicted, Kakao Corporation could potentially lose its status as a major shareholder in Kakao Bank and may face trial under joint punishment regulations.