An undisclosed buyer entered into an agreement to acquire 5.1% stake in HANKOOK Technology Inc. (KOSDAQ:A053590) from HANKOOK Corporation Inc. (KOSDAQ:A050540) for KRW 3.8 billion on April 2, 2020. Under the terms, 3.8 million shares will be acquired as a part of the transaction. In a related transaction, an undisclosed buyer entered into an agreement to acquire 0.55% stake in HANKOOK Technology from HANKOOK Corporation for approximately KRW 410 million on April 2, 2020.

The transaction is expected to close on April 6, 2020.