Pep Tech Co., Ltd. signed a contract to acquire the antenna business from IM Tech Inc. (KOSDAQ:A226350) for KRW 320 million on December 28, 2018. The consideration will be paid in cash upon execution of the contract on February 1, 2019. For the year 2017, the antenna business had sales of KRW 12.6 billion. IM Tech Inc's special shareholders' meeting will be held on January 31, 2019. As of January 31, 2019, the transaction has been approved by the shareholders of IM Tech Inc. The transaction was resolved by the Board of Directors of IM Tech Inc. on December 28, 2018 and is expected to close on February 1, 2019. Woori Accounting Corporation acted as an external rating institution in the transaction.