Hwang Yin Jun agreed to acquire additional 37.28% stake in USKOR & Associates Co., Ltd. from MPC Ltd. (KOSDAQ:A050540) for KRW 9.5 billion on February 13, 2017. Under the terms, MPC Ltd. will sell 1.5 million shares. As reported on March 31, 2017, Out of KRW 9.5 billion, KRW 1.5 billion was paid on February 10, 2017, KRW 1.5 billion was paid on February 27, 2017, KRW 2 billion, to be paid until December 31, 2017 and the remaining amount of KRW 2.6 billion will be paid until March 14, 2018. MPC Ltd. will sell the target shares through delivery notification with the chair person’s signature, Hwang In-Jun of the stocks being sold at the time of third payment completion. The balance, interest debt of KRW 1.9 billion to be paid on March 30, 2018 or return date of the request deposit paid to Korea Water Resources Corporation as it participated as the investor in Songsan Green City International Theme Park by USK Property Holdings Lo., Ltd. As per the amendment report, the balance of interest debt of KRW 1.9 billion will be paid on March 14, 2018. The remaining payment of KRW 2.6 billion and the balance interest debt of KRW 1.9 billion was not paid until March 31, 2019. The share transfer has also sent an official letter requesting the payment of the balance on April 1, 2019. Pursuant to Article 5, Clause 1 of the contract, and will re-announce the schedule of payment of the balance according to the reply within 5 business days. USKOR & Associates reported total assets of KRW 88.2 billion as on March 31, 2017. As of April 5, 2019, the remaining 3rd sales amount of KRW 2.6 billion and the balance of KRW 1.92 billion (interest payables) have not been paid until March 31, 2019. The transaction is subject to Fair Trade Commission. The scheduled date of sales is March 30, 2017. As of March 20, 2017, the scheduled date of sales has been changed to March 14, 2018. As of March 14, 2018, the scheduled date of sales has been changed to March 31, 2019. MPC Ltd will use the proceeds for operating funds. Saesidae Accounting Corporation acted as external rating institution. As the transferee failed to pay the balance until the payment date of March 31, 2019, it attempted to make written notice and agreement pursuant to article 1 of the stock purchase contract, but the company decided that the buyer has no intention to pay. The board of directors of HANKOOK Corporation has decided to proceed with the legal proceedings for transferee and joint surety through its board of directors meeting on April 5, 2019 and also claim the balance and interest liabilities as well as the damages caused by the delay in payment of the balance. Hwang Yin Jun cancelled the acquisition of an additional 37.28% stake in USKOR & Associates Co., Ltd. from MPC Ltd. (KOSDAQ:A050540) on October 5, 2019.