Chinyang Holdings Corp. (KOSE:A100250) agreed to sell 9.3% stake in Chin Yang Moolsan Co., Ltd. for KRW 10 billion on March 25, 2013. Chinyang Holdings will sell 0.63 million shares of Chin Yang Moolsan in the transaction to secure liquidity and will hold 6.13 million shares of Chin Yang Moolsan after the transaction.

For the year ended December 31, 2012, Chin Yang Moolsan reported revenues of KRW 2.05 billion, total assets of KRW 115.93 billion, net loss of KRW 6.4 billion and total common equity of KRW 112.6 billion. The transaction was resolved by the Board of Directors of Chinyang Holdings on March 25, 2013. The transaction is expected to close on April 28, 2013.