SG Choongbang Co.,Ltd (KOSE:A001380) agreed to acquire additional approximately 17% stake in Flexio for KRW 2.1 billion on October 8, 2019. As reported, SG Choongbang Co.,Ltd will issue 1.06 million shares as consideration. Pre deal, SG Choongbang Co.,Ltd held 34.2% stake and post deal, it will hold 51.2% stake in Flexio. For the year ending 2018, Flexio reported total assets of KRW 1.9 billion, total capital of KRW 750 million, sales of KRW 771 million and net loss of KRW 1.4 billion. The Board of Directors of SG Choongbang Co.,Ltd passed a resolution for the deal on October 8, 2019. The deal is expected to close on October 23, 2019.