Terafox Corp. announced that on February 28, 2017, Chi Yeuk Lau resigned as the Company's acting Chief Executive Officer, Chief Financial Officer, Secretary and Treasurer of the Company and the Board of Directors immediately appointed Mr. Bum Chul Kim as acting Executive Officer, Chief Financial Officer, Secretary and Treasurer of the Company. Ms. Lau remains as the Company's sole director.

Bum Chul Kim. Mr. Kim has significant experience in all aspects of business management, with concentration in the IT sector. Since March 2016 to the present, he has been Chief Executive Officer of Sinjutech Co Ltd. From December 2014 to March 2016, he was Director of Modu & T Co Ltd.