Hecto Financial Co., Ltd. (KOSDAQ:A234340) agreed to acquire CODEF Co., Ltd. for KRW 11.1 billion on May 3, 2022. For the year ended 2021, CODEF reported total assets of KRW 1.7 billion, Total debt of KRW 429 million, total equity of KRW 1.3 billion, and Net income of KRW 91 million. The transaction is expected to complete on July 20, 2022.

As on July 20, 2022, the transaction is expected to complete on September 30, 2022. As on July September 29, 2022, the transaction is expected to complete on November 30, 2022.