Digital Daesung Co., Ltd. (KOSDAQ:A068930) agreed to acquire Hanuri Open Education Co., Ltd. and Hobeop Gangnam Co., Ltd. on November 4, 2020. Under the terms the merger ratio is 1: 2.1676483: 26.2818561. Hanuri Open Education Co., Ltd., is a subsidiary of Digital Daesung Co., Ltd., and Hobeop Gangnam Co., Ltd. is an affiliated company. Digital Daesung Co., Ltd. (KOSDAQ:A068930) will acquire remaining shares in Hanuri Open Education Co., Ltd. and 100% stake in Hobeop Gangnam Co., Ltd. Post completion Hanuri Open Education Co., Ltd. and Hobeop Gangnam Co., Ltd will dissolve. The transaction is subject to shareholders' approval each party, all government approvals should be be secured prior to the merger date. The representations and warranties made by the parties to this agreement should be true and accurate in their material respect as of the date of conclusion of this agreement and the date of merger. The parties to this contract should have fulfilled and observed all of the commitments and obligations under this contract. The transaction was resolved by the board on November 4, 2020. The transaction is expected to complete by February 1, 2021. Samil Accounting Firm acted as external evaluation agency in the transaction.