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Games & Commerce

Wemade delays largest shareholder change to Dec. 30 after final payment postponed

Wemade said the schedule for a change in its largest shareholder has been postponed by two months to Dec. 30 from Oct. 30 due to delays in meeting closing conditions. The company said it revised the expected date for the final payment and the change of largest shareholder. Under a June 30 deal, Chairman Park agreed to sell a 39.33 percent stake to Neopulse for 920 billion won, with 828 billion won due at closing.

Finance

Shinhan Financial to buy Lotte Non-Life Insurance for 693.3 billion won, seek merger with Shinhan EZ

Shinhan Financial Group will acquire a 77.04% stake in Lotte Non-Life Insurance for 693.3 billion won to expand its non-life insurance business. Shinhan Financial said it signed a share purchase agreement for the stake held by JKL Partners. It plans to secure the remaining 22.96% after regulatory approvals, make the insurer a wholly owned unit and pursue a merger with Shinhan EZ Non-Life Insurance while injecting additional capital.

Finance

OK Financial signs definitive deal to buy Yebyeol non-life insurer

OK Financial Group signed a share purchase agreement to acquire Yebyeol Non-Life Insurance and enter the insurance business. With Yebyeol\'s performance worsening, OK Financial expects it will need to inject more than 110 billion won in additional funds and is considering bringing forward planned investment outlays. It plans to prioritise policyholder protection and management normalisation, raise key solvency indicators above regulatory standards, and expand staffing from about 260 to 500 to 600.