Chungho Ict Co.,Ltd. (KOSE:A012600) agreed to acquire 25% stake in Advanced Mechatronics Tech Co., Ltd. from JC Semicon Growth Limited, Jung Jae-ryun, Lee Bong-jin and others for KRW 20 billion on September 20, 2023. As part of acquisition, Chungho will acquire 28,820 shares. Chungho will acquire 22.75% stake from JC Semicon, 1.5% stake from Jung Jae-ryun, 0.37% stake from Lee Bong-jin and 0.37% stake form others.

For period ended December 31, 2022, Advanced Mechatronics reported total assets of KRW 45.2 million, total debt of KRW 21.7 billion, total capital of KRW 23.5 billion, sales of KRW 35.4 billion and net income of KRW 6.2 billion. The transaction is expected to close on October 18, 2023.