Kyung Nong Corp. (KOSE:A002100) agreed to acquire an additional 36.06% stake in Chobi Co. Ltd. (KOSE:A001550) from Suhyoung Corp.

and other shareholders for KRW 7.5 billion in cash on October 30, 2012. Kyung Nong will acquire 0.57 million shares of Chobi. Pursuant to the transaction, Kyung Nong's stake in Chobi will increase to 55.21%.The Board of Directors of Kyung Nong Corp passed a resolution for the acquisition on October 30, 2012.

The scheduled date for the transaction is October 31, 2012.