Hwaseung R & A Co.,Ltd (KOSE:A013520) agreed to acquire HST&C Corporation for KRW 50.7 billion in cash on March 29, 2013. Hwaseung R & A will acquire 0.8 million shares in HST&C. HST&C Corporation reported revenues of KRW 158.24 billion, net income of KRW 136.06 million, total assets of KRW 142.61 billion, total borrowings of KRW 57.43 billion and total stockholders' equity of KRW 48.05 billion. The Board of Directors of Hwaseung R & A resolved the transaction on March 29, 2013. The transaction is expected to close on April 30, 2013.

Hwaseung R & A Co.,Ltd (KOSE:A013520) completed the acquisition of HST&C Corporation on April 30, 2013. Post closing, Hwaseung R & A Co.,Ltd will own 100% stake in HST&C Corporation.