Chin Yang Industry Co., Ltd. (KOSE:A003780) agreed to acquire Ilseung Ind.Co., Ltd. for approximately KRW 4 billion on July 1, 2020. The deal value is payable in cash. For the year ending 2019, Ilseung Ind. reported total assets of KRW 12.1 billion, total capital of KRW 4.9 billion, sales of KRW 12.6 billion and net income of approximately KRW 314 million. The Board of Directors of Chin Yang Industry passed a resolution for the deal on July 1, 2020. The deal is expected to close on July 10, 2020.