Seoul: Kakao Mobility Corp., the operator of the country's most-used taxi-hailing service provider, was fined over alleged accounting fraud on Wednesday and referred to the prosecution for further investigation. The Securities and Futures Commission, a panel under the Financial Services Commission, decided to impose a 3.4 billion-won (US$2.47 million) fine on Kakao Mobility, along with 340 million won each on its chief executive and former chief financial officer for allegedly inflating revenues in preparation for a stock market debut.According to Yonhap News Agency, the regulator also decided to transfer related documents to the prosecution for further probes into the alleged accounting mishap. In February this year, the company was fined 9 billion won by the Financial Supervisory Services over the same allegations.The financial regulator's recent fine came a month after the country's antitrust agency fined Kakao Mobility 72.4 billion won for allegedly demanding competing taxi franchise operators sign pa rtnership deals and blocking their access to its taxi-hailing services, Kakao T, if they rejected the offer.
- October 12, 2026
