CTM Co. Ltd. and Byeong-cheol Jeon agreed to acquire 28% stake in Kwang Jin Ind. Co., Ltd. (KOSDAQ:A026910) from BYON Co., Ltd. (KOSDAQ:A032980) for KRW 6 billion on March 7, 2024.

The acquisition will be funded from equity. The deal is expected to be completed on March 14, 2024.