NAVER’s Third-Party Allotment of New Shares to NVIDIA

In July 2026, Lee & Ko advised NAVER Corporation in connection with a US$1 billion strategic equity investment from NVIDIA Corporation, a global leader in AI and GPU technology. The transaction attracted significant market attention as an investment by NVIDIA in a Korean company. It was structured as a third-party allotment of new shares, pursuant to which NVIDIA subscribed for 7,241,564 new common shares of NAVER at an issue price of KRW 204,500 per share.

Lee & Ko advised NAVER on all aspects of the transaction. Its work included negotiating and reviewing the principal transaction documents, including the share subscription agreement; advising on the board resolutions and related disclosures required for the third-party allotment and cancellation of treasury shares; and assisting with the procedures for execution of the transaction documents. Lee & Ko played a key role in the successful completion of the transaction.