Hanjung Construction Co.,Ltd. agreed to acquire 27.5% stake in PSMC CO., Ltd (KOSDAQ:A024850) from Kyung Nam Pharm Health Care Co., Ltd. (KOSDAQ:A223310) for KRW 9.3 billion on November 4, 2020. Under the terms of the transaction, 11 million shares will be transferred for a price of KRW 850 per share. Post acquisition, Kyung Nam will hold 9.74% stake in PSMC.

On November 4, 2020, KRW 935 million was paid and the balance amount of KRW 8.415 billion on December 1, 2020. Transaction is expected to close on December 1, 2020. Daesung Samkyeong Accounting Corporation acted as external valuation agency.