NS Shopping Co., Ltd intends to spin off NS Holdings Co., Ltd. on April 27, 2022. Post completion, NS shopping will hold its distribution business under same brand name and for its Investment division it will create a new company under name called NS Holdings Co., Ltd.Under terms of transaction, the Spin-off ratio will be Spin-off surviving company: 0.2294241- Spin-off company: 0.7705759. For Year ended December 31, 2021, the total assets, debt and equity for investment division was approximately KRW 750 billion KRW 320 billion and KRW 430 billion respectively. The shares of the company established through spin-off to be allocated to the shareholders of the company to be divided according to the spin-off shall be paid in the same type of shares as the stocks of the company to be divided that the shareholder holds as of the date of spin-off. NS shopping board passed resolution on April 27, 2022 to spin off its investment division and scheduled a shareholder meeting on September 15, 2022. The base date for new share allocation is September 30, 2022. Expected date of divisional registration is October 4, 2022