Games & Commerce

Kakao Games to come under Line Yahoo\'s umbrella; three parties\' calculations

LY Corp (Line Yahoo) is set to take control of Kakao Games through its investment vehicle LAAA Investment, in a deal valued at about 300 billion won and targeted for completion in May. LAAA will buy existing shares and acquire new shares and convertible bonds, making it the largest shareholder while Kakao becomes No. 2. The deal is intertwined with Line Games\' financial strain, Kakao\'s group reshuffle and variables linked to a Lionheart Studio IPO.

Telecommunications & Media

Mobile phone activation facial authentication rollout delayed, alternative options under review

South Korea has delayed the full rollout of a policy requiring facial authentication when activating mobile phones, reflecting concerns over personal data leaks and other issues. The Ministry of Science and ICT said on March 20 it will extend the pilot period for verifying identity using facial recognition to June 30. The procedure was introduced in December as part of anti-voice phishing measures, but drew recommendations from the National Human Rights Commission and requests for alternatives.