Kakao expressed regret over the prosecution’s request for the arrest warrant of its executives in the process of the SM Entertainment management rights dispute, in which it was alleged to be involved in market manipulation.
The battle over SM shares is over and Kakao will become the major shareholder of the company.
HYBE has refuted the statements announced by Kakao Entertainment saying their announcement does not explain problems raised by them.
HYBE has announced that it will take legal action regarding the business cooperation agreement between SM Entertainment and Kakao Entertainment.
Cube Entertainment has joined hands with Kakao Entertainment.