KG Chemical Corporation (KOSE:A001390) signed an agreement to acquire remaining 15.5% in KG Corp. for KRW 16 billion on October 5, 2020. The consideration comprises issuance of 0.85 million new shares at the ratio of 1: 285.4299082. KG Chemical Corporation will remain as a surviving company and KG Corp will disappear. For the year ended December 31, 2019, KG Corp. repored total assets of KRW 78.1 billion, revenues of KRW 2.3 billion, net income of KRW 2.1 billion and net assets of KRW 72.1 billion. The deal is subject to Fair Trade Commission and shareholders of KG Chemical. The Board of Directors resolved the deal on October 5, 2020. Shareholders meeting will take place on December 23, 2020 and the deal is expected to close on January 25, 2021. KG Chemical Corporation (KOSE:A001390) completed the acquisition of remaining 15.5% in KG Corp. on January 27, 2021.