The Board of PSK Inc. (KOSDAQ:A031980) announced the spin-off of PSK INC. on September 27, 2018. PSK INC. comprises the semiconductor process equipment business of PSK Inc. PSK Inc. will be renamed PSK HOLDINGS INC. upon completion of the transaction. The net assets of PSK Inc. will be distributed in the ratio 0.73:0.27 among PSK INC. and PSK HOLDINGS INC. As at June 30, 2018, PSK INC. reported total assets of KRW 232.38 billion and total capital of KRW 187.14 billion.

The transaction was resolved by the Board of PSK Inc. The spin-off was approved at the Extraordinary meeting of shareholders PSK Inc. on February 15, 2019. The new shares of the spun-off entity are expected to be issued on February 26, 2019 while listing of new shares is scheduled for March 25, 2019. The change of PSK Inc.'s name to PSK HOLDINGS INC. will be applied on the spin-off date.

The spin-off is expected to close on April 1, 2019.