Kakao Games, which saw its largest shareholder shift to a Line Yahoo affiliate on the 19th, hit the daily price limit on the 22nd.

On June 22nd, immediately after 9:00 AM, Kakao Games shares soared by 29.97% to hit the daily limit of 11,450 won. While the price dipped slightly thereafter, it maintained a strong rally at 10,280 won, up 16.69%, as of 10:45 AM.

Following the market close on the 19th, Kakao Games finalized the acquisition process with Line Yahoo. With capital increases and convertible bond issuances wrapped up, the company's largest shareholder has changed from Kakao to LAAA Investment, a special purpose vehicle established by Line Yahoo. LAAA Investment now holds a 33.43% stake, relegating Kakao to the second-largest shareholder as its stake dropped from 37.93% to 14.68%.

This deal has secured 300 billion won in capital for Kakao Games, which the company intends to use to sharpen its competitive edge globally and build a foundation for mid-to-long-term growth. In particular, they are looking to expand collaboration with Line Yahoo in key global markets, starting with Japan. Kakao is also reinvesting a portion of the proceeds to maintain its partnership, with the agreement explicitly including provisions for the employment stability and existing working conditions of Kakao Games staff.

Meanwhile, following an extraordinary general meeting of shareholders and a board meeting on June 22nd, Kakao Games appointed former Line Games Vice President Kim Tae-hwan and Kakao Games Vice President Lee Si-woo as new co-CEOs. The company is also gearing up for a busy release schedule, with Lionheart Studio's new MMORPG 'Odin Q: Valkyrie Scholl' and Supercat's 2D MMORPG 'World of Dokkaebi' set for the third quarter, followed by the PC/console title 'ArcheAge: Chronicles' in the fourth quarter.

However, regarding the persistent rumours of a merger with Line Games that have circulated since the acquisition announcement, the company has maintained its existing stance that nothing has been decided.