Wangjun Lee signed a share acquisition contract to acquire 25.8% stake in MG MED, Inc. (KOSDAQ:A 180400) from Macrogen Inc. (KOSDAQ:A038290) for KRW 22.6 billion on October 30, 2017. As per terms, Wangjun Lee will acquire 1.6 million shares of MG MED for KRW 14,500 per share. A deposit of KRW 2.26 billion in cash has been made on October 30, 2017 and the balance payment of KRW 20.4 billion will be done in cash on December 13, 2017. On November 24, 2017, the buyers changed to Myungji Global Bio Fund and Blue Win AMC Co., Ltd. Pursuant to the amendment, Myungji Global Bio Fund will acquire 1.3 million shares for KRW 18.6 billion and Blue Win AMC Co., Ltd will acquire 0.28 million shares for KRW 4 billion. On December 12, 2017, the terms have been revised. Under the revised terms, the balance payment will be done on December 12, 2017. The contract duration ends on December 13, 2017. On December 12, 2017, the transaction is expected to close on December 12, 2017.

Wangjun Lee completed the acquisition of 25.8% stake in MG MED, Inc. (KOSDAQ:A 180400) from Macrogen Inc. (KOSDAQ:A038290) on December 12, 2017. On December 13, 2017, the shareholders of MG MED, Inc approved Lee, Wangjun, Lee, Jangwoo and Lee, Kyoungsook appointed as internal director and Lee, Hyoseok, Park, Sangjun and Oh, Yeonmok appointed as Other Non-Standing Executive Director at the Extraordinary shareholders' meeting. As a result of the transaction, the Chief Executive Officer was changed from Byong-Hwa Lee to Jangwoo Lee.