TK Chemical Corporation (KOSDAQ:A104480) agreed to acquire construction business division of C&Woobang Construction Co Ltd. for KRW 1.6 billion in stock on December 30, 2014. TK Chemical shall issue 0.9 million of its shares as consideration. The construction business division recorded total assets of KRW 5617 million, revenue of KRW 10.2 billion, total liabilities of KRW 1.7 billion, total stockholder's equity of KRW 3.9 billion, and net profit of KRW 1.03 billion in 2013.

Board of Directors of TK Chemical has resolved the transaction. The deal is expected to close on February 5, 2015. Scheduled delivery date of new share certificates is March 26, 2015 and scheduled listing date is March 27, 2015.