An unknown buyer agreed to acquire 80.3% in Kwangyang Marine Co., Ltd. from Dongbang Transport Logistics Co., Ltd. (KOSE:A004140) for KRW 52 billion on June 26, 2020. As per terms, 0.84 million shares will be acquired. Post completion Dongbang Transport Logistics Co., Ltd. will exit from Kwangyang Marine Co., Ltd. The transaction is subject to approval of Fair Trade Commission. The Board of Directors of Dongbang Transport Logistics Co., Ltd. resolved the transaction on June 26, 2020. The deal is expected to close on July 30, 2020.