Monsoon Korea Co., Ltd and New Ocean Cross Co., Ltd agreed to acquire 3.45% stake in Magic Micro Co.,Ltd. (KOSDAQ:A127160) from Future Tech One Co., Ltd. for KRW 5.5 billion on November 15, 2018. The consideration is paid in cash and will not pay any separate deposit of KRW 5.5 billion on the transaction end date (November 22, 2018). Under the terms, Monsoon Korea and New Ocean Cross will acquire 2 million shares of Magic Micro. Future Tech One shall hold an extraordinary shareholders' meeting after the date of the conclusion of the agreement and appoint four of the seven in-house directors or external directors nominated by the Monsoon Korea and New Ocean Cross as internal directors or external directors of the Magic Micro. The transaction is expected to be completed by November 22, 2018. Monsoon Korea Co., Ltd and New Ocean Cross Co., Ltd cancelled the acquisition of 3.45% stake in Magic Micro Co.,Ltd. (KOSDAQ:A127160) from Future Tech One Co., Ltd on December 13, 2018. Monsoon Korea and New Ocean Cross was unable to make payment on the date of payment.