Hyeongji Elite Submits Letter of Intent to Acquire 'Joheun Saramdeul'... Acquisition and Subject Not Yet Confirmed

[Asia Economy Reporter Kwon Jae-hee] Hyungji Elite announced on the 10th regarding reports by some media outlets about "Hyungji Elite's participation in the acquisition bid for 'Joeun Saramdeul'" that "We have submitted a letter of intent and a bid application to acquire Joeun Saramdeul Co., Ltd. for the expansion of existing and new businesses; however, there is currently no confirmed decision on whether to acquire Joeun Saramdeul Co., Ltd. or on the acquiring party." They added, "However, we will re-disclose the information within one month or when specific details are finalized."