MP Hankang CO., Ltd. (KOSDAQ:A219550) agreed to acquire 15% stake in New Medic Co., Ltd. from H&H Systems and Soyoung Kang for KRW 19.5 billion on November 30, 2018. The payment will be made in cash. 10% of the consideration equating to KRW 1.95 billion will be paid as deposit on November 30, 2018, out of which H&H Systems will get KRW 1.82 billion and Soyoung Kang will get KRW 130 million. 40% of the consideration equating to KRW 7.8 billion will be paid as second payment within December 26, 2018, as per the amendment terms the second payment will now be paid on March 15, 2019, out of which H&H Systems will get KRW 7.28 billion and Soyoung Kang will get KRW 520 million. The remaining 50% of the consideration equating to KRW 9.75 billion will be paid within June 28, 2019, out of which H&H Systems will get KRW 9.1 billion and Soyoung Kang will get KRW 650 million. As of March 15, 2019, other than the deposit amount of KRW 1.95 billion, the remaining consideration of KRW 17.55 billion will be paid on June 28, 2019 out of which H&H Systems will receive KRW 16.38 billion and Soyoung Kang will receive KRW 1.17 billion. H&H Systems will sell 14% and Soyoung Kang will sell 1% stake in New Medic Co., Ltd. As of December 31, 2017, New Medic Co., Ltd. reported total assets of KRW 16.5 billion. For the year ending December 31, 2017, New Medic Co., Ltd. reported sales of KRW 15.3 billion and net profit of KRW 7.5 billion. The Board of Directors of MP Hankang CO., Ltd. passed a resolution for the deal on November 30, 2018. The scheduled acquisition date is June 28, 2019. BDO Daejoo LLC acted as external rating institution on the deal. Samil PricewaterhouseCoopers acted as external auditor on the deal. MP Hankang CO., Ltd. (KOSDAQ:A219550) cancelled the acquisition of 15% stake in New Medic Co., Ltd. from H&H Systems and Soyoung Kang on May 8, 2019. The agreement was cancelled due to changes in acquisition company's sales and changes in chinese market environment.