The digital door lock business unit of Woongjin Group, an unlisted South Korean conglomerate, is likely to be put up for sale, reported Financial News Daily.
The report cited an unspecified insider at the group as saying that Woongjin Group is seeking a buyer for the business in the mid to long term.
According to the report, the digital door lock business recorded sales of KRW 16bn (USD 13.4m) in 2008 but its performance fell down to KRW 10bn last year.
Source: Financial News Daily (translated)
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