Dongnam Marine Crane Co., Ltd. (KOSDAQ:A101000) agreed to acquire Hannam Steel Material Co., Ltd. from Yong Lee and Taejun Bang for KRW 9.4 billion on April 4, 2018. Under the terms of transaction, Dongnam Marine Crane Co., Ltd. will acquire 0.01 million shares for KRW 9.4 billion. Under the terms of transaction, the loan of KRW 350 million worth of bonds paid to Hannam Steel Material Co., Ltd. was acquired by Yong Lee and this will serve as partial payment for the stock acquisition. Dongnam Marine Crane Co., Ltd.'s 9th unregistered coupon unguaranteed private convertible bonds of KRW 9 billion was used as the partial payment. For the year ended December 31, 2017, Hannam Steel Material Co., Ltd. reported total assets of KRW 1.1 billion, net assets of KRW 1.1 billion and sales of KRW 16.5 billion, net profit of KRW 1.0 billion. The transaction has been resolved by the Board of Dongnam Marine Crane Co., Ltd. The transaction is expected to be completed by April 4, 2018. Dongnam Marine Crane Co., Ltd. (KOSDAQ:A101000) cancelled the acquisition of Hannam Steel Material Co., Ltd. from Yong Lee and Taejun Bang on May 9, 2018.