SoftBank Vision Fund, a global technology investment fund with nearly USD 100 billion in assets, invested USD 2 billion in Coupang, a Korean e-commerce giant.  This investment was the largest inbound deal of 2018 in Korea.  

Founded in 2010, Coupang is the largest and fastest growing e-commerce company in Korea, with sales of USD 5 billion in 2018.  SoftBank previously invested USD 1 billion in Coupang in 2015, and transferred its shares in Coupang to SoftBank Vision Fund in 2018.  Shortly after the transfer of existing shares, SoftBank Vision Fund invested an additional USD 2 billion, which resulted in a total USD 3.4 billion investment raised by Coupang (there were investors other than SoftBank Vision Fund).

As SoftBank Vision Fund and Coupang aimed to close the deal as soon as possible after the transfer of the existing shares, Kim & Chang and Hughes Hubbard & Reed successfully managed a seamless closing of the deal in a timely manner.  We served as local counsel for Coupang and provided legal assistance in various aspects including merger filing, regulatory issues and corporate governance.