Kakao Games to Hold Extraordinary Shareholders' Meeting on the 22nd to Appoint New Directors

Kakao Games, which is currently undergoing an acquisition process by a special purpose company (SPC) funded by Japan's LY Corporation (formerly Line Yahoo), will hold an extraordinary general meeting of shareholders to proceed with the appointment of new directors.

Kakao Games logo. Provided by Kakao Games

On June 4, Kakao Games announced in a regulatory filing that it will convene an extraordinary general meeting of shareholders on June 22 at the Kakao AI Campus in Yongin, Gyeonggi Province, to newly appoint Taehwan Kim, Chief Strategy Officer (CSO) of LINE Games, and Siwoo Lee, Chief Business Officer (CBO) of Kakao Games, as inside directors. Both director nominees are reportedly set to be appointed as co-CEOs following their confirmation.

Since 2023, Kim has served as CSO at LINE Games, overseeing the company's gaming business. Kim previously held roles including Head of Strategic Planning, Director of Planning and Coordination, and Executive Vice President at Nexon Korea, Chief Business Development Officer (CBDO) at Nexon Japan, and Executive Vice President at Nexon America.

Lee joined Kakao Games in its early days as Head of Mobile Publishing and has since served as CBO (Executive Vice President), among other roles. Lee has overseen both the mobile and PC gaming businesses at Kakao Games.

In addition, Kakao Games has proposed the appointment of Seokho Seo, Managing Director at Petrico Partners, as a new non-executive director, and Taeseop Lim, a professor at Sungkyunkwan University, as a new outside director. Petrico Partners manages Petrico No.6 PEF, a private equity fund funded by LY Corporation and the 100% owner of LAAA Investment, the largest shareholder of Kakao Games.

This content was produced with the assistance of AI translation services.