Shinhoo Co., Ltd. (KOSDAQ:A066430) agreed to acquire Samsung Hwasung Co., Ltd. from Hyunkyu Yeom, Jongchul Yoon and Hyunbo Park for KRW 3.7 billion on June 2, 2016. Under the terms of the deal, 20,000 shares will be acquired. Payment will be made following investment-in-kind paid-in capital increase by allocating to the third parties that Shinhoo Co. issues on June 2, 2016. As of December 31, 2015, Samsung Hwasung had total assets of KRW 8.9 billion, sales amount of KRW 17 billion and net profit of KRW 260 million. The Board of Directors of Shinhoo passed the resolution for the transaction on June 2, 2016. The scheduled acquisition date is June 2, 2016. Serim Accounting Corporation acted as external rating institution. Shinhoo Co., Ltd. (KOSDAQ:A066430) cancelled the acquisition of Samsung Hwasung Co., Ltd. from Hyunkyu Yeom, Jongchul Yoon and Hyunbo Park on June 2, 2017.