Soul Investment Co.,Ltd. agreed to acquire 99.92% stake in Aspac Investment Partnership from The Hanryu Times Co., Ltd. (KOSDAQ:A039670) for KRW 18 billion on May 20, 2019. Out of total consideration, KRW 12 billion was paid on May 20, 2019 and the balance amount will be paid at completion. Soul Investment will acquire 1.3 million shares in Aspac Investment Partnership. Aspac Investment Partnership had total assets of KRW 23.12 billion, net assets of KRW 23.12 billion and net income of KRW 10.11 billion in year 2018. Transaction was resolved by the Board of Directors of The Hanryu Times. Transaction is expected to close on June 7, 2019. The expected completion date was modified to June 14, 2019.