DaeChang Steel Co., Ltd. (KOSDAQ:A140520) agreed to acquire Buil Steel Co.,Ltd from Kyuchul Jung, Sunhee Jung and Jaechun Sim for KRW 24.5 billion on October 30, 2020. DaeChang will acquire 0.3 million shares and Kyuchul Jung, Sunhee Jung and Jaechun Sim will sell 0.08 million shares respectively. Out KRW 24.5 billion, KRW 4 billion was paid on October 30, 2020, KRW 7 billion will be paid on January 29, 2021 and balance will be paid on March 31, 2021. On January 26, 2021, as per correction the intermediate payment of KRW 7 billion will be paid by February 1, 2021. The transaction will be financed by holding funds and borrowings, etc. Buil Steel reported total assets of KRW 55.4 billion, total equity of KRW 22.2 billion, sales of KRW 85.7 billion and net income of KRW 273 million for year ending, December 31, 2019. The transaction is expected to close on March 31, 2021.