UBASE INC. entered into a stock sale contract to acquire a 50.10% stake in Hanil Networks Co., Ltd. (KOSDAQ : A046110) from Hanil Holdings Co., Ltd. (KOSE:A003300) for approximately KRW 100 billion on February 24, 2022. The closing is subject to the government approval of the seller and buyer. The transaction is expected to close 5 business days after the date when all prerequisites of the stock sale contract are satisfied or the date the parties agree separately.