Paxnet, Inc. announced the spin-off of cable channel business and securities news production to the shareholders of Paxnet, Inc. on August 18, 2014. The distribution ratio has been decided as 0.1210925 for each share of Paxnet. Pursuant to the transaction, the cable channel business and securities news production business will be known as Asiaetv, Inc. For the period ending June 30, 2014, Asiaetv, Inc. reported total assets of KRW 27.4 billion, total liabilities of KRW 5.3 billion and net assets of KRW 22.17 billion. The scheduled general meeting of stockholders date has been set at October 6, 2014, the spin-off fixed date has been set at November 27, 2014 and the spin-off registration date has been set at December 1, 2014. The transaction has been resolved by the Board of Paxnet, Inc.

Paxnet, Inc. completed the spin-off of cable channel business and securities news production to the shareholders of Paxnet, Inc. on December 1, 2014. The distribution ratio has been changed to 0.1210657.