Jiwoo Commerce Acquires Used Car Sales Company Newcaca for 3.4 Billion Won

[Asia Economy Reporter Minwoo Lee] GY Commerce announced on the 22nd that it has decided to acquire 500,000 shares of Newcaca, a used car purchase and sales company, for 3.375 billion KRW. This amount corresponds to 32.84% of GY Commerce's equity capital. With this acquisition, GY Commerce will hold 100% of Newcaca's shares.

The company explained, "The acquisition was made to increase sales revenue and operating profit."