Hyundai HCN Kyongbuk Systems Co. agreed to acquire HYUNDAI HCN POHANG SYSTEMS CO.,Ltd from Hyundai HCN Co., Ltd. (KOSE:A126560) on January 24, 2014. The exchange ratio is 1:319.3511989.

Under the terms of transaction, 3.2 million new shares will be issued with merger. The transaction is expected to close by March 31, 2014.