Hybe Corporation's Partnership with Naver and YG Entertainment2021-01-29
Lee & Ko advised on the share subscription and business transfer transactions whereby Naver will transfer its V Live business and provide its technology to BeNX Co., Ltd., a subsidiary of Hybe. This transaction will support the creation of a new global fan community platform that integrates the users, contents and services of Weverse and V Live, serviced by Hybe and Naver respectively. Through this transaction, Hybe and Naver will further strengthen its global leadership in fan community platforms. Lee & Ko also provided legal advisory services for the share purchase and share subscription agreements by and between Hybe and YG Entertainment.
Beyond the requisite legal services in connection to regular M&A transactions, Lee & Ko additionally provided efficient and effective advisory services on various issues surrounding the development of business partnership relationships between Hybe-Naver and Hybe-YG Entertainment. As a result, Lee & Ko was able to successfully assist the parties to reach transactional outcomes that were satisfactory for all those involved.