The Board of Hansol CSN Co., Ltd. (KOSE:A009180) announced the spin-off of distribution business on April 7, 2013. The business will be established as a new company named Hansol Logistics Co., Ltd. As part of transaction, 0.519794 new shares of the newly established company will be allocated per 1 share of Hansol CSN. The Board of Directors of Hansol CSN has resolved to undertake the transaction.

The transaction is subject to approval by the shareholders of Hansol CSN at a meeting to be held on July 30, 2013 and the transaction is expected to close on September 1, 2013. As of July 3, 2013, new shares of the newly established company will be allocated per 1 share of Hansol CSN.