Vehicle System Co. Ltd. signed a stock transfer agreement to acquire 16% stake in MAXROTEC Co., Ltd. (KOSDAQ:A141070) from Inhwan Kim for KRW 12 billion on November 14, 2019. Vehicle System Co. Ltd. will acquire 5 million shares in MAXROTEC and make a down payment of KRW 2 billion on agreement, an intermediate payment of KRW 2.88 billion for receiving 1.2 million shares on December 26, 2019 and the balance of KRW 7.12 billion for receiving 3.8 million shares will be paid on the February 19, 2020. At the extraordinary general shareholders' meeting held on December 27, 2019, the resignation of existing and new officers was appointed, as a result of planning and dismissal of executives after acquisition. The transaction is expected to be completed by February 19, 2020.