EAID-Etron invests 20 billion KRW in Korean Chorus for Russian vaccine production

[Asia Economy Reporter Yoo Hyun-seok] EID announced on the 22nd that it will invest a total of 20 billion KRW, including 10 billion KRW each by its subsidiary Etron and itself, to acquire shares of Korea Chorus, which is responsible for producing the Russian vaccine Sputnik V.

Through a disclosure on the same day, EID and Etron stated that they will each invest 10 billion KRW, totaling 20 billion KRW, to acquire shares of Korea Chorus, which signed an exclusive CMO production contract to manufacture the Sputnik V vaccine developed by the Russian Gamaleya Institute. The investment will be made by participating as general partners in the 'Sputnik Chorus No. 1 Association,' which invests in Korea Chorus.

Previously, EID and Etron disclosed that they would each contribute 10 billion KRW to the first Sputnik New Technology Investment Association, a new technology business investment association, on the 8th and 15th respectively. With the execution of this contribution, EID and Etron acquired 1.82 million shares of Korea Chorus, holding a 16.7% stake. The acquisition price was 10,989 KRW per share, and the purpose of the investment is simple investment.