UPDATE 1-China’s Ant to invest $200 mln in Korea’s Kakao Pay

SHANGHAI, Feb 21 China’s Ant Financial will invest $200 million in Kakao Pay, the mobile payment subsidiary of South Korean messaging platform giant Kakao Corp, extending a major push by the Chinese firm to create a global network of financial assets. The two firms said in a joint statement on Tuesday that the investment was part of a larger strategic partnership to help connect Ant’s 450 million global users with Kakao Pay, which currently has over 14 million members on its platform.