A court in Seoul on Friday blocked a proposed move to issue new shares in K-pop talent agency SM Entertainment to Korean tech giant Kakao Corp. and its Kakao Entertainment subsidiary. An injunction…
An injunction was sought by Lee Soo-man, one of the pioneers of the Korean contemporary music industry, but who is recently at the center of a storm of controversy.
The Seoul Eastern District Court on Friday accepted Lee’s application for an injunction on the share issue and sale to Kakao. But it did not publish its reasons., read: “The Court did not accept that SM has a compelling need for financing.
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