Hancom Safety Inc. signed a contract to acquire Sancheong Co. Ltd. for approximately KRW 270 billion on July 7, 2017. Hancom Safety Inc. will acquire 0.2 million shares of Sancheong Co.,Ltd. Hancom Safety Inc. will fund the purchase price by a paid-in capital increase of KRW 80 billion participated by Hancom Inc., paid-in capital increase participated by STIC Special Situation PEF of redeemable convertible preferred stock of KRW 40 billion and convertible bonds issuance of KRW 40 billion, acquisition finance of KRW 65 billion and bridge loan of KRW 40 billion. As of September 18, 2017, the terms of the transaction have been amended. Under the revised terms of the transaction, Hancom Safety Inc. will pay KRW 200 billion on the transaction closing date which includes 10% deposit paid at the time of announcement and remaining KRW 65 billion after the closing of the transaction. The transaction is subject to approval by the Minister of Commerce and is expected to complete on September 7, 2017 or if the approval of the Minister of Commerce does not happen till August 31, 2017, it is to be 15 business days following the approval of Minister of Industry and Commerce. As on September 1, 2017, transactions completion date has been extended to November 21, 2017. As of October 13, 2017, the deal completion date is proponed to November 3, 2017 as the transaction is approved by Minister of Industry and Commerce. The closing date of the transaction will be 15 business days following the approval of Minister of Industry and Commerce.