Seoul Electronics & Telecom Co. Ltd. (KOSDAQ:A027040) sold 29.89% stake in I One Co., Ltd for approximately KRW 840 million on July 30, 2014. Seoul Electronics & Telecom Co. Ltd. will sell 0.44 million shares in the transaction. The Board of Directors of Seoul Electronics & Telecom Co. Ltd. made a resolution in favor of the transaction on July 30, 2014. The transaction is expected to close on July 30, 2014. Seoul Electronics & Telecom will sell the stake to secure operating funds.

Seoul Electronics & Telecom Co. Ltd. (KOSDAQ:A027040) completed the sale of 29.89% stake in I One Co., Ltd on July 30, 2014.