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Exploring the financial crisis in the K-pop industry post the arrest of Kakao Corporation's founder and its impact on major K-pop agencies and album sales. Also, delving into how BTS's compulsory military service, drop in K-pop sales, and strategies like launching localized music groups affect the South Korean economy and the music industry's future growth.
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- Stock price manipulation scandal affecting K-pop industry dynamics.
- Expansion into global markets essential for K-pop industry revival amid domestic challenges.
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Kakao Corporation's Founder Arrested for Alleged Stock Price Manipulation in K-pop Industry
Kim Beomansu, founder of Kakao Corporation, was recently arrested for his alleged involvement in a stock price manipulation scandal in the K-pop industry. The scandal revolves around accusations of artificially boosting SM Entertainment's stock price to prevent HYBE Corporation from gaining control. This controversy not only affects Kakao's stock value but also contributes to the ongoing crisis in the K-pop scene, where major agencies have experienced significant stock price declines.
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