Why does the future of SM Entertainment look so scary? Amidst a stock manipulation scandal, Kakao announced it will put up the K-pop juggernaut for SALE barely a year after it won a brutal ownership battle against HYBE in 2023.

Did Kakao really engage in illegal stock manipulation and why did regulators make such a big deal out of these accusations? Most importantly, who wants SM Entertainment now? Will HYBE make another move to acquire its biggest historical rival? Or will it join us in the audience with special BigHit popcorn?