Korea Movenex Co., Ltd. (KOSE:A010100) signed an agreement to acquire 29% stake in BorgWarner Mobility Korea LLC from Borgwarner Turbo Systems, Inc. for KRW 20 billion on June 16, 2023. As of December 31, 2023, BorgWarner Mobility Korea reported revenue of KRW 353 billion, total assets of KRW 123 billion and net income of KRW 21 billion. The deal is expected to close on June 30, 2023.