Jinyi Gao entered into a contract to acquire 40.5% stake in Younyi Information & Communication Co.,Ltd (KOSDAQ:A090740) from Yongho Lee and Euna Lee for KRW 46.1 billion on October 8, 2019. As per terms of consideration, Jinyi Gao paid KRW 4.6 billion as down payment on signing the contract and rest KRW 41.5 billion will be paid on completion of the contract. In the transaction, Jinyi Gao will acquire 6.5 million shares at KRW 7,115 per share. Yongho Lee will sell 5.9 million shares representing 36.7% stake and Euna Lee will sell 0.6 million shares representing 3.8% stake of Younyi Information & Communication Co.,Ltd. Post completion, Yongho Lee and Euna Lee will hold 0 shares in Younyi Information & Communication Co.,Ltd. and Jinyi Gao will become the largest shareholder of Younyi Information & Communication Co.,Ltd. The transaction is expected to close on December 11, 2019. Jinyi Gao cancelled the acquisition of 40.5% stake in Younyi Information & Communication Co.,Ltd (KOSDAQ:A090740) from Yongho Lee and Euna Lee on October 8, 2020.