Dayou Winia Service Co., Ltd. agreed to acquire Dawoo Electronics Service Co., Ltd. for KRW 16.5 billion on May 9, 2019. As per terms of the merger, Dayou Winia Service Co., Ltd. (“Dayou Winia Service”) will issue 3.53 shares for every one share of DAEWOO Elec Service Co., Ltd. (“DAEWOO Elec Service”). Dayou Winia Service will issue total of 0.53 million shares as consideration.

DAEWOO Elec Service had total assets of KRW 38.8 billion, total capital of KRW 14.7 billion, revenues of KRW 132.8 billion and net income of 2.5 billion in 2018. Board Dayou Winia Co., Limited, parent of Dayou Winia Service, resolved the merger on May 9, 2019. The transaction is expected to be completed on July 1, 2019.