Posco ICT Company Ltd. (KOSE:A022100) agreed to acquire 3% stake in Dongbang Geumhong Properties Ltd. from POSCO Engineering & Construction Co., Ltd. for KRW 5.3 billion on December 7, 2012. Board of Directors of Posco ICT Company resolved the transaction on December 7, 2012. The transaction is subject to approval from Beijing Municipal Commission of Commerce in China.

The transaction is expected to close in the first half of 2013.