SFA Engineering Corporation (KOSDAQ:A056190) agreed to acquire 13.8% stake in Snu Precision Co Ltd (KOSDAQ:A080000) from Heejae Park for KRW 13.1 billion on December 5, 2016. Under the terms of the transaction, SFA Engineering Corporation will buy 3.4 million shares of Snu Precision Co Ltd. Post closing, SFA Engineering Corporation will hold 13.8% stake in Snu Precision Co Ltd. SFA Engineering will use own funds. Management officers will be selected by SFA Engineering and new Director will be selected at the extraordinary meeting of shareholders on January 20, 2017.

Park Hee-jae will resign as Chief Executive Officer. Jesoon Park will join as Chief Executive Officer.