Hyundai Home Shopping Network Corporation entered into agreement to acquire Life and Physical Assets Insurance Business of Hyundai Department Store Co. Ltd. for KRW 10.9 billion.

Hyundai Home Shopping Network Corporation (KOSE:A057050) entered into agreement to acquire Life and Physical Assets Insurance Business of Hyundai Department Store Co. Ltd. (KOSE:A069960) for KRW 10.9 billion on December 1, 2020. Under the terms, The amount of the transfer may be changed in the course of the transaction according to the agreement and agreement between the transfer party.

The transaction is expected to close on December 31, 2020.