The Sports Seoul Co., Ltd. (KOSDAQ:A039670) acquired Samhwa International Co., Ltd. from Seohyun Lee for KRW 15 billion on November 27, 2017. Under the transaction, Sports Seoul Co., Ltd. acquired 0.3 million shares representing 100% stake. KRW 1.5 billion is paid as down payment and KRW 13.5 billion as balance on November 27, 2017 in cash. Consideration is funded by using cash of The Sports Seoul Co., Ltd. During the financial year ended December 31, 2016, Samhwa International Co., Ltd. reported total assets of KRW 5.5 million, net assets of KRW 2.65 million, revenue of KRW 10.12 million and net profit of KRW 2.1 million. The transaction has been resolved by the Board of Directors of The Sports Seoul Co., Ltd. Songkang Accounting Corporation acted as external rating institution under the transaction. The Sports Seoul Co., Ltd. (KOSDAQ:A039670) completed the acquisition of Samhwa International Co., Ltd. from Seohyun Lee on November 27, 2017.