Wonik Corporation (KOSDAQ:A032940) agreed to acquire 60% stake in Jang San for KRW 2 billion in cash on July 27, 2015. Under the terms of the deal, Wonik Corporation will acquire 0.2 million shares of Jang San. Wonik Corporation paid KRW 197.82 million and will pay KRW 1.78 billion on August 7, 2015.

The transaction is expected to close on August 7, 2015. As of May 31, 2015, Jang San had total assets of KRW 4.42 billion, total revenue of KRW 1.65 billion and net profit of KRW 379 million. During the year ended December 31, 2014, Jang San had total assets of KRW 6.82 billion, total revenue of KRW 1.36 billion and net profit of KRW 90 million.