Jaanh Group, Inc. and Jaanhbio, Inc. entered into a memorandum of understanding to acquire a 5.7% stake in Jaanh Cosmetics,Inc. for KRW 5 billion.

Jaanh Group, Inc. and Jaanhbio, Inc. (KOSDAQ:A221610) entered into a memorandum of understanding to acquire a 5.7% stake in Jaanh Cosmetics,Inc. (KOSDAQ:A219550) for KRW 5 billion on February 8, 2021. Under the transaction, Jaanh Group, Inc. and Jaanhbio, Inc. will acquire 4.545455 million shares of Jaanh Cosmetics,Inc.