Seung-Woo Jung entered into a contract to acquire 19.2% stake in Gentro Co Ltd. (KOSE:A083660) from Moo-Won Byun and Sa-Dong Kim for KRW 7.4 billion on November 13, 2012. Moo-Won Byun will sell 1.3 million shares of Gentro Co Ltd. representing 16.8% stake and 0.22 million warrants and Sa-Dong Kim will sell 0.18 million shares of Gentro Co Ltd. representing 2.4% stake and 0.68 million warrants of Gentro Co Ltd. Seung-Woo Jung will acquire 1.4 million shares of Gentro Co at an offer per share of KRW 4883. As part of the consideration, a deposit of KRW 100 million will be paid on the contract signing date, the second payment of KRW 1.5 billion will be made by November 30, 2012 and the remaining balance of KRW 5.76 billion will be deposited into the company account or the law firm which has contract with both the buyer and the seller before the extraordinary meeting of shareholders for the transfer of management rights. In case that the contract is cancelled, the responsible party should pay for the expenses spent for the execution of the contract, and the penalty of KRW 500 million to the other party. The transaction is expected to close by December 28, 2012.

As of November 30, 2012, the second payment of KRW 1.5 billion will now be made on December 14, 2012 and the transaction is expected to close by January 4, 2013. As of December 17, 2012, the second payment of KRW 1.5 billion will now be made on December 27, 2012 and the transaction is expected to close by January 18, 2013. As of December 28, 2012, the second payment of KRW 1.5 billion will now be made on January 17, 2013 and the transaction is expected to close by February 15, 2013. As of January 17, 2013, the second payment of KRW 1.5 billion will now be made on January 28, 2013. As on January 29, 2013, the scheduled date of change in the largest shareholder has been revised to February 22, 2013 from February 15, 2013. The date of second payment of KRW 1.5 billion payment has been revised from January 28, 2013 to February 1, 2013.