Haenim Company and 7 others signed a contract to acquire 47.39% stake in Hwashin Tech Co., Ltd. (KOSDAQ:A086250) from group of sellers for KRW 20.7 billion on October 2, 2018. As per the amendment dated November 20, 2018, Haenim Company and 17 others signed a contract to acquire 47.39% stake in Hwashin Tech Co., Ltd. (KOSDAQ:A086250) from group of sellers for KRW 20.7 billion. Under the terms, Haenim Company and 7 others will acquire 4.6 million shares at KRW 4500 per share. Deposit of KRW 4.1 billion paid on October 2, 2018 and second payment of KRW 7.9 billion will be held on November 20, 2018 and balance of KRW 8.7 billion will be held on December 28, 2018. Group of sellers have transferred 0.92 million shares as contract deposit payment on October 2, 2018. Upon completion, Younghoon Oh and Seungduk Baek will be the new Chief Executive Officer. The transaction is expected to be completed on December 28, 2018. On October 2, 2018, Hans Eng Corp. acquired 19.9% stake. Haenim Company, Hans Eng Corp and 16 others completed the acquisition of 47.39% stake in Hwashin Tech Co., Ltd. (KOSDAQ:A086250) from group of sellers on December 28, 2018. Hwashin Tech Co., Ltd shareholders passed the resolution at the extraordinary shareholders' meeting in which Younghoon Oh, Byungwon Choi, Jaesik Yoon, Seungduk Baek, , Jaeyoon Kim and Seungsoo Yoo are appointed as internal directors and Jongnam An, Kyungwon Jung, Seungmyun Jung and Hoin Jin are appointed as external directors of Hwashin Tech.