R2summit Co., Ltd, TOMO corp., THCNS Co., Ltd., and BK Growth Fund signed a contract to acquire 31.89% stake in Young in Frontier Co., Ltd. (KOSDAQ:A036180) from Young In Scientific Co., Ltd., Jimin Lee, Hyukgeun Lee, Jaewoo Kim and Soongil Lee for KRW 40.7 billion on April 29, 2019. As per amendment dated October 14, 2019, Jeju Star Tour Co.,Ltd, R2summit Co., Ltd, BK Growth Fund 1,  TOMO corp., THCNS Co., Ltd, Sanghoon Han and K&L Corporation Co., Ltd. signed a contract to acquire 31.89% stake in Young in Frontier Co., Ltd. from Young In Scientific Co., Ltd., Jimin Lee, Hyukgeun Lee, Jaewoo Kim and Soongil Lee for KRW 40.7 billion on July 4, 2019. Under the terms, Jeju Star Tour Co.,Ltd will acquire 8.11% stake, R2summit Co., Ltd will acquire 7.84% stake and each of TOMO corp., THCNS Co., Ltd., and BK Growth Fund will acquire 4.41% stake, Sanghoon Han will acquire 1.57% stake and K&L Corporation Co., Ltd will acquire 1.14% stake. Young In Scientific Co., Ltd. will sell 5.2% stake, Jimin Lee will sell 12.6% stake, Hyukgeun Lee will sell 9.1% stake, Jaewoo Kim will sell 4.9% stake, and Soongil Lee will sell 0.07% stake. Out of total consideration, KRW 4 billion will be paid at signing of contract, KRW 10 billion be escrowed at the contract signing and KRW 26.7 billion will be paid upon completion of change of officers (closing of extraordinary meeting of shareholders). Transaction is expected to close on July 5, 2019. On July 4, 2019, R2summit Co., Ltd completed the acquisition of 1.38 million shares of Young in Frontier Co., Ltd. On July 23, 2019, at extraordinary general meeting of shareholders of Young in Frontier Co., Ltd. approved, Yongjoo Shin, Heesook Son, Seongam Lee and Hyukjin Kwon appointed as outside Directors and Jiwoong Hyun, Joonsung Kim, Seokcheol Bae, Joonghee Kim and Mincheol Kim appointed as internal Directors. R2summit Co., Ltd, TOMO corp., THCNS Co., Ltd., and BK Growth completed the acquisition of 31.89% stake in Young in Frontier Co., Ltd. (KOSDAQ:A036180) from Young In Scientific Co., Ltd., Jimin Lee, Hyukgeun Lee, Jaewoo Kim and Soongil Lee on July 4, 2019.