Saerom Technology Takes over Freechal

Saerom Technology (Hong, Gi-Tae, CEO) announced on the 26th that it signed a declaration of intent for taking over an Internet community service provider Freechal (Chon, Je-Wan, CEO) and game provider Dreamchal.

Therefore, Saerom Technology decided to take over the management through buying the equities of the two companies that the former CEO Chon, Je-Wan holds and issuing new stocks.

They plan to finalize the detailed selling quantity and condition of management transfer after evaluating the financial affairs and management situation, and Saerom Technology will sign the final contract through the board meeting based on the evaluation.

Freechal that opened on January 1, 2000 fell into a liquidity crisis, and made its service chargeable in November. After the CEO was arrested in charge of seizure recently, rumors of selling the company has been floating around major dot com companies.

Seong-Yub Ra cpu@donga.com