HANKOOK Technology Inc. (KOSDAQ:A053590) agreed to acquire DSME Construction Co., Ltd. on September 23, 2022. As per the terms, HANKOOK Technology Inc. is carrying out a small-scale merger by issuing new shares and exchanging them for shares of DSME construction co ltd. The merger ratio was calculated as 1:7.7. After the merger, the surviving corporation is HANKOOK Technology Inc. After the merger, the name of HANKOOK Technology Inc will be changed back to DSME construction co ltd. As of October 6, 2022, Hankook has completed the acquisition of 90.8% stake. Transaction is expected to be completed on December 8, 2022. as of November 7, 2022, acquisition is expected to close on February 10, 2023. As of January 9, 2023, the transaction is expected to close on April 28, 2023. SungSan Accounting Corporation acted as an accountant to HANKOOK Technology Inc. Lee Jung Accounting Firm acted as accountant to DSME Construction.

HANKOOK Technology Inc. (KOSDAQ:A053590) cancelled the acquisition of DSME Construction Co., Ltd. on January 30, 2023.