Jin System announced on the 30th that it has decided to acquire Kyungbo Electric for 10.5 billion won in order to diversify its business and secure future growth drivers.

According to the regulatory filing, Jin System will acquire all 15,000 common shares of Kyungbo Electric (a 100% stake). The acquisition amount of 10.5 billion won represents 72.94% of Jin System's total assets and 74.70% of its equity capital based on its consolidated financial statements at the end of 2025. The total transaction amount, including the down payment and balance, will be paid in cash using available funds, with the scheduled acquisition and payment date set for July 30, 2026. The counterparties are five individuals, including Kim Jae-jung, the largest shareholder of Kyungbo Electric.

The fairness of the acquisition price has also been verified. Jin System conducted an external evaluation through the accounting firm Changcheon. The valuation firm assessed Kyungbo Electric's equity value at between 9.858 billion won and 11.399 billion won, concluding that there was no basis to deem the actual intended acquisition price of 10.5 billion won inappropriate from a materiality perspective.

Jin System is also preparing follow-up measures to improve management efficiency after completing the acquisition. The company plans to pursue a small-scale merger with Jin System as the surviving entity and Kyungbo Electric as the dissolved entity, aiming to integrate business capabilities and strengthen mid- to long-term growth drivers. Additionally, the company is actively considering funding plans, including a third-party allotment capital increase, within the next six months, although specific details such as the issuance date and allotment targets have not yet been finalized.

Kyungbo Electric, the subject of this acquisition, is primarily engaged in the manufacturing and sale of measuring instruments for switchboards, protective relays, and instrument transformers (CT/PT). As of the end of 2025, the company reported total assets of 18.139 billion won, revenue of 23.971 billion won, and net income of 384 million won.