Geumsung Fund signed a contract to acquire 30.6% stake in Digital Multimedia Technology Co., Ltd. (KOSDAQ:A134580) from Hee Kee Lee for approximately KRW 27.90 billion on December 9, 2016. Under the terms, the buyer will acquire 3.33 million shares at KRW 8,388 per share. As a part of the contract, a deposit of KRW 3 billion must be paid upon signing of the contract, KRW 6 billion must be paid until December 15, 2016 after the assessment completion or if the buyer requests for the extension of the assessment period, 3 business days after the assessment completion and the balance of KRW 18.9 billion will be paid within 40 business days (February 3, 2017) from the signing of the contract.

As of December 21, 2016, the terms of the transaction were amended. homecast Co., Ltd. (KOSDAQ:A064240) will now acquire 3.33 million shares at KRW 8,318 per share. The terms of the transactions were amended on December 23, 2016, homecast Co., Ltd. will now acquire 3.33 million shares at KRW 8,242 per share.

On January 19, 2017 the terms of the transaction were further amended and homecast Co., Ltd. will now acquire 3.33 million shares for KRW 8,196 per share. The transaction is subject to the approval of the shareholders of Digital Multimedia Technology Co., Ltd. and is expected to complete on November 26, 2018. Extraordinary shareholders' meeting schedule was resolved to be scheduled on January 23, 2017.

As of January 23, 2017, Chief Executive Officer of Digital Multimedia Technology was changed from Heeki Lee to Jaeho Shin.