Gentrogroup.Co.,Ltd. (KOSDAQ:A083660) entered into an agreement to acquire Chochosfactory Co., LTD from Cho Sung-ah and others on December 30, 2019. Under the terms of the consideration Gentrogroup.Co.,Ltd. will issue 1 common share for every 2.0624 shares of Chochosfactory Co., LTD. On completion of this transaction, Chochosfactory Co., LTD will be merged into Gentrogroup. Chochosfactory Co., LTD's largest shareholder, Sungah Cho will become largest shareholder in merged entity. After merger, combined company will be known as CSA Cosmic Co., Ltd. and Chochosfactory Co., LTD will be merged into Gentrogroup.Co.,Ltd. For the year ended December 31, 2018, Chochosfactory Co., LTD reported total assets of KRW 20 billion, total debt of KRW 15.96 billion and net Income of KRW 772.9 million. On December 30, 2019, Board has resolved the transaction. On January 16, 2020. The transaction is subject to shareholders of Gentrogroup.Co.,Ltd. and general meeting would be held on February 12, 2020. On February 12, 2020, shareholders of Gentrogroup.Co.,Ltd. approved the transaction. The merger is expected to close on April 1, 2020. Hanmi Accounting Corporation acted as accountant to this transaction.