South Korean law firms Lee & Ko and Shin & Kim are counselling on LY Corporation-backed LAAA Investment’s KRW300 billion (USD200 million) investment in Kakao Games, making the Japanese tech company its largest shareholder.
Kakao Games, a subsidiary of Korean conglomerate Kakao Corp, announced on 25 March 2026 that LAAA Investment was set to invest in the company through the acquisition of existing shares, new stock and convertible bonds.
Lee & Ko partner Sung Min Kim is leading the team for LAAA Investment and Shin & Kim partner Joongil Cho is head of the group acting for Kakao Games. LAAA Investment did not engage Japanese legal counsel.
Cho previously advised on the 2023 transfer of a controlling interest in SM Entertainment to Kakao Corp and Kakao Entertainment.
The deal is expected to close in May 2026.
LY Corporation is a Japanese tech company, formed in 2023 from a merger between messaging app LINE and Yahoo! Japan.
Kakao Games is a global publishing company that develops games for PC, mobile and VR platforms.
