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Finance

Woori Investment Securities arranges 600 billion won acquisition financing, largest since launch

Woori Investment Securities has completed its largest acquisition financing arrangement since its launch, as it expands participation in big-ticket investment banking deals after a 1 trillion won rights issue. The firm said it completed on June 30 the acquisition financing arrangement for a deal in which a consortium led by STIC Alternative Asset Management and Korea Investment Private Equity is buying stakes in Ulsan GPS and SK Multi Utility. The overall transaction is worth 1.6 trillion won.

Finance

Samsung Securities Q1 operating profit 609.5 billion won, up 82.1 percent

Samsung Securities posted solid first-quarter results, helped by growth in its wealth management business. The company said operating profit rose to 609.5 billion won, up 84.4 percent from the previous quarter and 82.1 percent from a year earlier. Pretax profit climbed to 615.5 billion won and net profit to 450.9 billion won. Retail client assets saw net inflows of 19.7 trillion won, lifting total client assets to 495.6 trillion won.

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.