[Alpha Biz=(Chicago) Reporter Kim Jisun] KT (030200) is expanding its influence on the company as it leads the process of attracting new investments from promising semiconductor fabless company Rebellions.

According to Seoul Economic Daily on the 12th, KT has recently decided to invest about KRW 33 billion along with its affiliates, KT Cloud and KT Investment, in Livelion's new investment of about KRW 160 billion. KT Group plans to complete the payment by early next year as it participates as the largest investor in Rebelion's bid to attract investment in Series B.

KT is a major shareholder that has already invested 30 billion won in Rebellions in July last year, and as its accumulated investment exceeds 60 billion won through additional investment, Livelion's stake will also increase to 13% from the previous 8.5% to solidify its position as the second-largest shareholder.

The problem is that during this investment process, KT is known to be involved in replacing lead investors by exerting influence and joining new investors.

Revillion said KT had no influence on investor A's participation. The company explained, "We were communicating with investor A even before this investment attraction, and KT had no impact at all."

After this investment, KT will have one more recommended director on the board of directors of Rivillion. Livelion's board of directors currently consists of six members, including Livelion's founder and CEO Park Sung-hyun and Chief Technology Officer (CTO) Oh Jin-wook, with KT's board of directors increasing to two, accounting for one-third.

 

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