Jae Bong Jung agreed to acquire 14.508224% stake in Southcape Co., Ltd. from HANDSOME Corp. (KOSE:A020000) for KRW 45 billion on October 26, 2022. For the period ended December 31, 2021, Southcape reported total assets of KRW 476 billion, Sales of 79 billion and net profit of KRW 4.3 billion.

Transaction is expected to close on December 31, 2022.