GY COMMERCE Co.,Ltd. (KOSDAQ:A111820) agreed to acquire Newcarcar Inc. from Jeongjin Kim for KRW 3.4 billion on January 21, 2021. GY COMMERCE will acquire 0.5 million shares of Newcarcar and shall make a down payment and intermediate payment of KRW 2.38 billion as a deposit paid and shall pay balance of KRW 1 billion on January 26, 2021. GY COMMERCE Board resolved for the transaction on January 2, 2021. The transaction is scheduled to close on January 26, 2021. Jinil Accounting Firm acted as an external independent evaluator in the transaction.