Kunwon S-I Co., Ltd. and Moon Jae Cheol acquired 40% stake in TTC Defence, INC. (XKON:A309900) from Sungwook Yoon for KRW 6 billion on May 25, 2020. Under the terms of the transaction, Kunwon will acquire 2.8 million shares representing 28% stake while Moon Jae Cheol will acquire 1.2 million shares representing 12% stake for KRW 1,500 per share. Upon completion of the transaction, Sungwook Yoon will now hold 36.09% stake in TTC. The payment for of the consideration by Moon Jae Cheol will be in three installments while Kunwon will pay a down payment and the middle payment of the stock transfer agreement are offset by the bonds held by Kunwon S.I. in TTC Defense Co., Ltd., and the balance payment is due on September 30, 2020 Kunwon S-I Co., Ltd. and Moon Jae Cheol completed the acquisition of 40% stake in TTC Defence, INC. (XKON:A309900) from Sungwook Yoon on May 25, 2020.