Woobang Industrial Co., Ltd. agreed to acquire additional 7.4% stake in SM Line Corporation from Korea Line Corporation (KOSE:A005880) for KRW 18.1 billion on March 23, 2018. Woobang Industrial Co., Ltd. will acquire 0.25 million shares of SM Line Corporation for KRW 71,834 each. Upon completion, Woobang Industrial Co., Ltd. will own 13.35% stake and Korea Line Corporation will not own any stake in SM Line Corporation. The Board of Directors passed a resolution on the transaction on March 23, 2018. The transaction is expected to close on March 29, 2018. Woobang Industrial Co., Ltd. cancelled the acquisition of additional 7.4% stake in SM Line Corporation from Korea Line Corporation (KOSE:A005880) on March 23, 2019.