SoftBank to Invest US$1 Billion into Korea’s Largest Online Retailer

June 03, 2015

Shanghai/Seoul (June 3, 2015) - Paul Hastings LLP, a leading global law firm, announced today that the firm represented SoftBank Corp. in the execution of definitive agreements to invest US$1 billion in Coupang, the largest and fastest growing standalone e-commerce player in Korea. The closing of the transaction is subject to customary conditions.

Paul Hastings has advised SoftBank Corp. and its subsidiaries on a number of transactions over the years including its US$600 million Series D financing of KuaiDi Dache, a leading mobile taxi booking app in China; its US$420 million sale of PPLive Corporation to Suning and Hony Capital; and its US$120 million investment round for Wandoujia, one of China’s largest mobile app distribution platforms.

The Paul Hastings team is being led by M&A partners David Wang in China and Daniel Sae-Chin Kim in Seoul, with support from M&A partner Jia Yan in Shanghai, associates Coral Yu (Beijing), Young Hwan Ryu (Seoul) and Jinkang Albert Nah (Hong Kong).

Paul Hastings is a leading global law firm with a strong presence throughout Asia, Europe, Latin America, and the United States. Through a collaborative approach, entrepreneurial spirit, and commitment to client service, the professionals of Paul Hastings deliver innovative solutions to many of the world’s top financial institutions and Fortune 500 companies.