Korea Information Certificate Authority, Inc. (KOSDAQ:A053300) agreed to acquire 5.02% stake in Fair square lab Co., Ltd. for approximately KRW 11 billion on September 1, 2022. Consideration will be paid in the form of cash for acquisition of Existing shares and convertible preferred stocks. Fair square lab Co., Ltd. reported Total assets worth KRW 1.36 billion, Net Loss of KRW 2.01 billion, net liabilities of KRW 1.4 billion and Total debt of KRW 2.77 billion in 2021.

The transaction is expected to close on November 21, 2022