RFHIC Corporation (KOSDAQ:A218410) agreed to acquire 55% stake in Metallife Co., Ltd for KRW 6.9 billion on September 29, 2017. Under the terms of transaction, RFHIC Corporation will acquire 0.02 million shares. RFHIC Corporation will pay a deposit of 20% of consideration, KRW 1.4 billion, on September 29, 2017, and the remaining 80% of consideration, KRW 5.5 billion, on October 16, 2017.

For the year ended December 31, 2016, Metallife Co., Ltd reported total assets of KRW 11.2 billion, net assets of KRW 6 billion, sales of KRW 11.7 billion and net profit of KRW 1 billion. The Board of RFHIC Corporation resolved the transaction. The transaction is expected to be completed on October 16, 2017.