Kakao Games will hold an extraordinary general meeting of shareholders on the 22nd to appoint a new board of directors.

This board reorganization is an extension of the ₩300 billion strategic investment and equity restructuring announced by Kakao Games in March to bolster its global market expansion. At the time, the company announced it would issue new shares and convertible bonds to L-Triple-A Investment, a firm funded by LY Corporation (LINE Yahoo).

Once the investment is finalized, L-Triple-A Investment will become the new largest shareholder of Kakao Games, while the existing largest shareholder, Kakao, will reinvest a portion of the proceeds from the sale of its old shares to remain a partner as the second-largest shareholder.

Kim Tae-hwan, former vice president of LINE Games, and Lee Si-woo, current CBO of Kakao Games, have been nominated as new executive directors. Kim previously served as vice president of Nexon Korea, CBDO of Nexon Japan, vice president of Nexon America, and vice president of LINE Games.

Lee served as a business team leader at NHN and WEMADE, and as director of the mobile business division at Kakao Games, before assuming his current role as CBO.

Lim Tae-seop, a professor at Sungkyunkwan University GSB, has been nominated as an outside director. Lim previously served as co-head of Goldman Sachs Korea and CEO of Macquarie Securities Korea, and currently serves as an outside director at SK Telecom. Seo Seok-ho, who previously worked as a manager in the future business team at GS and is currently an executive director at Petricor Partners, has been nominated as a non-executive director.

At the time of the investment announcement in March, Kakao Games stated, "This equity restructuring is a critical turning point to elevate our global competitiveness and solidify a foundation for sustainable growth," adding, "We will expand new growth opportunities in the global market based on cooperation with partners, including Kakao and LY Corporation."