Sajo Industries Company Limited (KOSE:A007160) and GUMJIN Retail Co., Ltd. agreed to acquire Fine Korea Co., Ltd. for KRW 41 billion on September 17, 2013. As part of the consideration, GUMJIN Retail Co., Ltd. will pay KRW 40.34 million and Sajo Industries will pay KRW 656.83 million. In 2012, Fine Korea reported revenues of KRW 80.6 billion and operating profit of KRW 9 billion. The transaction is expected to close by September 23, 2013.

Sajo Industries Company Limited (KOSE:A007160) and GUMJIN Retail Co., Ltd. cancelled the acquisition of Fine Korea Co., Ltd. on September 17, 2014.