Kginicis Co.,Ltd agreed to acquire 55% stake in SY Auto Capital Co. Ltd. from Ssangyong Motor Company and KB Capital Co., Ltd. for KRW20.1 billion.

KGINICIS CO.,LTD is a Korea-based company engaged in the provision of online payment gateway (PG) services. The Company provides secure PG solutions through cryptographic authentication, data protection and electronic signature technologies. The Company provides payment services under the brand name of INIpay. The Company offers a comprehensive line of payment services through credit cards, debt cards, purchasing cards, electronic fund transfer processing, gift cards, loyalty cards, stored value cards, point-of-sale equipment, merchant accounting and others. It has partnerships with online shopping malls, telecommunication carriers, public institutions and others.