The second trial court will hold a hearing on whether Kim Bum-soo, chairman of Kakao's Management Reform Committee, who was arrested and released on bail on suspicion of manipulating the market price of SM Entertainment, will be re-arrested.
The Seoul High Court recently allocated the prosecution's appeal case against Chairman Kim's bail citation to the Criminal Department 20, the chief justice.
The prosecution submitted an appeal to the court today (13th), and it was reported that Chairman Kim objected to the court's decision, saying he could cajole several key witnesses of the trial.
Earlier, the Seoul Southern District Court accepted Kim's request for bail at the end of last month, but it has been more than 100 days since Kim was arrested in July.
Chairman Kim is accused of manipulating the market price by forming the open purchase price of SM Entertainment higher than 120,000 won in order to hinder the open purchase of its rival Hive in February last year.
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