Finetechnix Co.,Ltd. (KOSE:A106240) agreed to acquire 98.07% stake in HK High-Tech. Co., Ltd. for KRW 27.5 billion in cash on August 19, 2013. Finetechnix will acquire 0.62 million shares of HK High-Tech.

For the year ended December 31, 2011, ERGO Daum Direct General Insurance Co., Ltd. reported revenues of KRW 18.36 billion, total assets of KRW 23.24 billion, net loss of KRW 185.4 million and total common equity of KRW 18.19 billion. The Board of Directors of Finetechnix passed the resolution for the transaction on August 19, 2013. The transaction is expected to close by March 31, 2014.