Hyundai Development Company Engineering & Construction (KOSE:A012630) and Macquarie Korea Asset Management Co., Ltd. through its fund Macquarie Korea Infrastructure Fund (KOSE:A088980) agreed to acquire 4% stake in Seoul-Chuncheon Highway Co., Ltd. from Korea Development Corporation (KOSE:A004200) for KRW 15 billion on February 10, 2017. Under the terms of the transaction, Hyundai Development Company Engineering & Construction will acquire 1.6 million shares and Macquarie Korea Asset Management Co., Ltd. will acquire an additional 0.97 million shares at KRW 5804 per share. The price per share could change from KRW 5804 to KRW 7,000 depending on the change in the level of income through the fixed toll fees in the adjusted concession agreement compared to the current concession agreement for the Build-Transfer-Operate project of Seoul-Chuncheon Highway. Korea Development Corporation will receive KRW 12.95 billion as advance payment on February 14, 2017 and the balance of KRW 2.08 billion is scheduled to be paid in December 2017 to March 2018, after the acquisition/sales amount is finalized. The transaction has been resolved by the Board of Directors of Korea Development Corporation on February 10, 2017. The transaction is expected to complete on February 10, 2017.

Hyundai Development Company Engineering & Construction (KOSE:A012630) and Macquarie Korea Asset Management Co., Ltd. through its fund Macquarie Korea Infrastructure Fund (KOSE:A088980) cancelled the acquisition of 4% stake in Seoul-Chuncheon Highway Co., Ltd. from Korea Development Corporation (KOSE:A004200) on February 10, 2018.