Paul Hastings, a leading global law firm, announced today that the firm represented the underwriters in the US$1 billion GDR offering by Kakao Corp., the operator of leading mobile and online platforms in Korea. This marks the largest overseas-listed equity offering by a Korean issuer in a decade.

The GDRs will be listed on the Singapore Exchange, while the underlying common shares will be listed on the Korea Exchange.

Paul Hastings previously advised the underwriters in a US$200 million exchangeable bond offering by Kakao Corp., exchangeable into shares of Loen Entertainment.

The Paul Hastings team was led by Dong Chul Kim, head of the firm’s Korea capital markets practice, with support from associate Nicholas Ahn.