Chorokbaem Platform New Technology Union and S.F. Global entered into share purchase contract to acquire 17.903976% stake in Neo Cremar Co., Ltd. (KOSDAQ:A311390) from Daeho Al Co.,Ltd. (KOSE:A069460) for KRW 25.9 billion on May 31, 2022. As per the transaction, Chorokbaem Platform New Technology Union will acquire 1,081,870 shares representing 13.4618% stake and S.F. Global will acquire 357,000 shares representing 4.44218% stake in Neo Cremar Co., Ltd. As of June 27, 2022, Chorokbaem and S.F. Global are paying KRW 5000 million as interim payment. As on December 31, 2021, Neo Cremar Co., Ltd. generated total assets of KRW 51.3 billion, sales of KRW 29.9 billion and net profit of KRW 1.8 billion.

The transaction is expected to close on July 29, 2022. As of July 28, 2022, the transaction is expected to close on May 31, 2023.