Prosecutors appeal Kim Bum-soo's bail..."Worried to run away or destroy evidence"

The Seoul Southern District Prosecutors' Office appealed to the court today (6th) to cancel the decision to grant bail to Kim Bum-soo, chairman of Kakao's management renewal committee, who is on trial for manipulating the market price of SM Entertainment.

The prosecution explained the reason for the appeal, which is concerned about running away due to the expected heavy sentence due to the nature of the case, and there is a high risk of destroying evidence due to the conciliation of statements because no witness examination has been conducted at all.

In addition, he added that Chairman Kim was released in an unusual short period of time even though there was no change in circumstances during the three months of his arrest, which violates equity with other cases.

Chairman of the states Affairs Commission Kim was arrested and charged with manipulating the stock market to hinder the open purchase of his rival Hive during the acquisition of SM Entertainment, but was released on the 31st of last month after bail was cited.