SeAH Steel International Co., Ltd agreed to acquire 60% stake in PT. SeAH Steel Indonesia from SeAH Steel Corporation (KOSE:A003030) on May 8, 2018. In a related transaction, SeAH Steel International Co., Ltd. agreed to acquire stakes in 9 other companies from SeAH Steel Corporation on May 8, 2018. SeAH Steel International Co., Ltd. is acquiring these companies for approximately KRW 480 billion comprising of issuance of 2 million new shares as consideration shares and will be paid on July 23, 2018. During the financial year ended December 2017, SeAH Steel Indonesia reported total assets of KRW 2.6 billion, net liabilities of KRW 1.1 billion, sales of KRW 4.7 billion and net loss of KRW 493 million. The transaction has been resolved by the Board of SeAH Steel Corporation. The transaction is expected to be completed on July 23, 2018. Samil PricewaterhouseCoopers acted as an External Rating Institution for SeAH Steel Corporation.