IHQ Inc. (KOSE:A003560) acquired Myeonghwasa Ruk Co., Ltd. for KRW 7.2 billion on May 13, 2022. IHQ Inc. acquired 40,000 shares of Myeonghwasa Ruk Co., Ltd. IHQ Inc. issued convertible bonds with a face value of KRW 7.2 billion and paid the entire amount as the purchase price of Myeonghwa Saryuk Co., Ltd. As of March 31, 2022, Myeonghwasa Ruk Co., Ltd. reported total assets of KRW 642.01 million and net assets of KRW 38.88 million. The Board of Directors of IHQ Inc. has resolved the deal on May 13, 2022.

IHQ Inc. (KOSE:A003560) completed the acquisition of Myeonghwasa Ruk Co., Ltd. on May 13, 2022.