SeAH Steel International Co., Ltd agreed to acquire SeAH Steel Investment America LLC from SeAH Steel Corporation (KOSE:A003030) for KRW 52.4 billion on May 8, 2018. In a related transaction, SeAH Steel International Co., Ltd. agreed to acquire stakes in 9 other companies on May 8, 2018. A total consideration paid by SeAH Steel International Co., Ltd. is approximately KRW 480 billion for the 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 Investment America LLC reported total assets of KRW 90 billion, net assets of KRW 52.4 billion and net loss of KRW 1.7 billion. 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.