Kakao is also currently conducting an audit of SM Entertainment's financial statements and executives following the demands of the company's Board Audit Committee. Kakao has further requested documentation regarding the investments made by SME, which were carried out without the prior consultation with the parent company. However, Kakao has continued to deny rumors about the sale of SM Entertainment, and they further stated no decision was made about the possible dismissal of SM Entertainment's management team as the audit results are not yet released. Stay tuned for updates.