Kumho Petrochemical Acquires 66.7% Stake in Kumho Resort for 160.4 Billion KRW

[Asia Economy Reporter Jang Hyowon] Kumho Petrochemical announced on the 23rd that it will acquire 10,398,434 shares of Kumho Resort for 160.4 billion KRW.

This represents 6.1% of its equity capital. After the acquisition, Kumho Petrochemical's stake in Kumho Resort will be 66.7%. The scheduled acquisition date is the 31st of next month. The purpose of the acquisition is "business portfolio diversification."