Wooyang Property, a subsidiary of Wooyang P&L, has decided to acquire the entire operation of Kyungdong Auto Field, located in Gijang-gun, Busan Metropolitan City, for 140 billion won. Through this acquisition, the company plans to enter a new business and secure stable operating cash flows.

The acquisition covers the entire operation of Kyungdong Auto Field, along with the assets, rights, and contractual relationships necessary for the continued operation of the business. Kyungdong Auto Field is the largest indoor automobile trading complex in the Yeongnam region.

■ Transferor Is a Related Party of the Largest Shareholder

The transferor is KPE Co., Ltd., a related party of Wooyang P&L's largest shareholder. KPE's capital stock amounts to 37.36 billion won, and its main business is residential building development and supply.

The company explained that Kyungdong Auto Field is an automobile trading complex generating stable operating income and cash flows. Based on current operating conditions and operational plans, annual revenue of approximately 12 billion won and NOI (Net Operating Income) of approximately 8 billion won are expected. However, the company added that these projected figures were calculated based on current operating conditions and operational plans, and may change depending on future business conditions.

■ Acquisition Scheduled for the 15th... Schedule and Price Subject to Change

The scheduled acquisition date is the 15th of this month. This is the expected closing date for the business acquisition transaction, and it may change depending on circumstances such as permits, approvals, and consultations with relevant authorities required under relevant laws and regulations. The acquisition price of 140 billion won may also be adjusted, and the schedule and terms may change depending on future progress.

Meanwhile, Wooyang Property is scheduled to be newly established in 2026, so its ratios relative to the subsidiary's total assets and the controlling company's consolidated total assets were not stated in the disclosure. However, the company stated that the consolidated total assets reflecting the merger of Wooyang P&L and Wooyang Fisheries amount to 346,689,245,937 won, and Wooyang Property's total assets of 7 billion won correspond to 2.02% of that amount.