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. Digital Daesung Co., Ltd. (KOSDAQ:A068930) completed the acquisition of remaining shares of Hanuri Open Education Co., Ltd. and 100% stake of Hobeop Gangnam Co., Ltd on February 2, 2021. Hanuri Open Education Co., Ltd reported total assets of KRW 27,317million, Total equity of 18,375 million, sale of 36,304 and operating profit of KRW 6,896 million and Net Income of KRW 5,335 million. Hobeop Gangnam reported total assets of KRW 41,398 million, Total equity of 28,671 million, sale of 27,292 million and operating profit of KRW 6,310 million and Net Income of KRW 5,066 million for the year ended December 31, 2019.