Wonik Corporation (KOSDAQ:A032940) agreed to acquire 60% stake in Garden of Sky for KRW 7 billion on July 27, 2015. Under the terms of the deal, Wonik Corporation will acquire 0.06 million shares of Garden of Sky. The deposit of KRW 701.84 million is paid on July 27, 2015 and the balance of KRW 6.32 billion will be paid on August 7, 2015.

As of May 31, 2015, Garden of Sky reported total assets of KRW 6.79 billion, total liabilities of KRW 3.58 billion, net assets of KRW 3.2 billion, revenue of KRW 2.38 billion and net profit of KRW 210 million. The transaction was resolved by the Board of Directors of Wonik Corporation on July 27, 2015. The transaction is expected to close on August 7, 2015.