Foosung Co., Ltd. (KOSE:A093370) agreed to acquire remaining unknown minority stake in Foosung Advanced Materials (Nantong) Co., Ltd. for KRW 16 billion on September 10, 2018. Consideration will be paid in cash. Post completion, Foosung Co., Ltd. will hold 100% stake in Foosung Advanced. During the financial year ended December 2018, Foosung Advanced Materials (Nantong) Co., Ltd. reported total assets of KRW 3.04 billion, net assets of KRW 3.02 billion and net loss of KRW 15.8 million. The transaction has been resolved by the Board of Foosung Co., Ltd. The transaction is expected to be completed on September 10, 2018.