Kakao Mobility Fined by S. Korea Over Alleged Accounting Fraud

South Korea’s Securities and Futures Commission fines Kakao Mobility and some of its current and former executives 4.14b won over alleged accounting fraud and will refer the case to the prosecution for further investigation, according to statement from Financial Services Commission.

• The Securities and Futures Commission, a panel under FSC, to fine 3.46b won on Kakao Mobility, 340m won each on its CEO and former CFO for allegedly inflating revenues in preparation for an IPO
• NOTE: Kakao Mobility Fined $55m by S.Korea for Monopolistic Activities

To contact the reporter on this story:
Seyoon Kim in Seoul at skim7@bloomberg.net

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