Hankukpackage Co., Ltd. (KOSDAQ:A037230) signed an agreement to acquire remaining 53.85% in Wonchang Packaging Industry Co., Ltd. for KRW 38.6 million on July 2, 2021. Hankukpackage will issue 29.4 million shares as consideration. The largest shareholder of Wonchang Corrugated Packaging Co., Ltd., the merged entity, is Haesung Industrial Co., Ltd. as of the filing date of the report. Haesung Industrial Co., Ltd. owns 53.85% and Hankukpackage Co., Ltd., the merged entity, holds 46.15%. After the merger, Hankukpackage Co., Ltd. will continue and Wonchang Corrugated Packaging Co., Ltd. will be dissolved. The meeting of the shareholders of Hankukpackage Co., Ltd. is scheduled on November 24, 2021 to approve the transaction and is expected to close on December 30, 2021.

Hankukpackage Co., Ltd. (KOSDAQ:A037230) completed the acquisition of remaining 53.85% in Wonchang Packaging Industry Co., Ltd. on December 25, 2021. As of December 25, 2021, Wonchang Packaging ceases to exist and in a separate transaction Hankukpackage merged in Korea Package Co.,Ltd on December 27, 2021.