The Board of NK Co., Ltd. agreed to Spin-Off Super Large Container Business.
February 26, 2020
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The Board of NK Co., Ltd. agreed to Spin-Off Super Large Container Business on February 27, 2020. As per terms, NK Co., Ltd. is spinning of its Super Large Container Business into a new entity which will be named as NK Ether Co., Ltd. For the year ended December 31, 2019, Super Large Container Business reported total assets of KRW 43.3 billion, total common equity of KRW 41.5 billion and total revenues of KRW 11.7 billion. The transaction is subject to the approval of the shareholders of NK Co., Ltd. The transaction was resolved by the Board of NK Co., Ltd. Transaction is expected to close on April 1, 2020.
NK CO., LTD. is a Korean company principally engaged in the manufacture and provision of fire extinguishing systems and high pressure gas cylinders. The Company operates its businesses through fire extinguishing system division, which provides carbon dioxide (CO2) systems for car carriers and engine rooms, loose fire fighting systems used as portable fire extinguishers for small scale fire, foam systems, dry powder systems and others; high pressure gas cylinder division, which provides industrial high pressure gas cylinders, compressed natural gas (CNG) fuel cylinders and industrial special gas cylinders, among others; ballast water treatment division, which provides ballast water treatment facilities, including ozone systems, filtration and electrolysis systems and others, and plant division, which mainly provides plant engineering services and relevant facilities. On December 18, 2013, the Company sold its entire shares of ENK CO., LTD.
NK CO., LTD. 
