Y Holdings Co., Ltd. sign a contract to acquire 7.4% stake in Kukdong Corporation (KOSE:A005320) from Byun, Sang-ki and 6 others for KRW 18.2 billion on August 13, 2020. Under the terms, Y holding is acquiring 3,134,120 shares of Kukdong at KRW 5,807 per share along with management rights. The initial down payment of KRW 2.2 billion was made by Y holding and remaining KRW 16 billion will be made until shareholders meeting in March 2021. Board of directors passed the resolution on August 13, 2020.