Sanbon Department Store Co., Ltd. announced that it has signed a memorandum of understanding with new investor TK Chemical Corporation on March 14, 2013. The company will issue shares by third party allocation.

On April 10, 2013, the company announced that it will receive KRW 20,800,000,000 in funding from the investor. The company will issue 4,160,000 shares at KRW 5,000 per share. The investor will acquire 67.38% stake in the company through this transaction. The company has received board approval for the transaction. PricewaterhouseCoopers Corporate Finance LLC acted as the financial advisor to the company. The scheduled acquisition date is May 9, 2013. The company reported total assets of KRW 20,235,000,000, revenues of KRW 3,896,000,000, and net loss of KRW 764,000,000 during year ended December 31, 2012.

On May 9, 2013, Sanbon Department Store Co., Ltd. closed the transaction.