Welbiotech, Delay in Acquisition of Geumyoung ENG Shares

[Asia Economy Reporter Jang Hyowon] Wellbiotech announced on the 7th that it has corrected the payment date for the remaining balance of the contract to acquire 100% of Kumyoung ENG's shares for 35 billion KRW, originally set for November 6 this year, to January 14 next year. Accordingly, the payment date for the interim payment of 17.5 billion KRW has also been changed from that day to December 15.

Kumyoung ENG is a company engaged in cleanroom machinery manufacturing and mechanical equipment construction. As of last year, it recorded sales of 50.2 billion KRW and a net profit of 3.7 billion KRW.