Court Denies Prosecutor's Request to Revoke Bail for Kakao's Kim Beom-soo

The Seoul High Court has rejected the prosecution's request to revoke the bail of Kim Beom-soo, the chairman of Kakao's management innovation committee, who is facing allegations of stock price manipulation related to SM Entertainment. This decision means that Kim, who was released on bail after 101 days in custody, will continue to face trial while remaining free. Legal experts have noted that this early bail release is unusual compared to other business figures in similar situations.

On December 23, the 20th Criminal Division of the Seoul High Court, presided over by Judge Hong Dong-ki, dismissed the prosecution's appeal to cancel Kim's bail. The court stated, "Considering the risk of evidence destruction or flight, we can agree with the original decision to grant bail."

Previously, in July, Judge Han Jeong-seok of the Seoul Southern District Court had ordered Kim's detention, citing concerns over potential evidence tampering and flight risk. However, during the first trial, the 15th Criminal Division of the same court granted him bail in October. The prosecution argued that Kim might attempt to influence key witnesses, but the Seoul High Court did not accept this claim. A lawyer with experience as a deputy prosecutor commented, "The first trial court reversed its decision within three months, and the second trial court found no issues with that. This is quite rare compared to other business leaders who typically receive bail closer to the end of their detention period."

Typically, courts grant bail about a month before the end of the six-month detention period if the trial is not concluded. For instance, former Daewoo Shipbuilding & Marine Engineering chairman Kim Yong-bin was released on bail five months after his arrest in April last year for fraud and embezzlement. Similarly, former Samsung Electronics vice president Ahn Seung-ho was granted bail in November after being detained in June for allegedly using confidential company information in a patent infringement lawsuit. The prosecution is reportedly considering whether to file a further appeal.