Juyeon Fund 1 signed a contract to acquire 15.45% stake in TONGYANG Networks Co., Ltd. (KOSE:A030790) from KJ Pretech Co., Ltd. (KOSDAQ:A083470) for KRW 16.3 billion on May 25, 2017. KJ Pretech will sell 8.1 million shares. As per the terms, 10% of acquisition amount will be paid as deposit upon contract signing and the balance 90% of the acquisition amount will be paid until June 12, 2017 which is the expected closing date.

The Board of KJ Pretech Co., Ltd. resolved to carry out the deal on May 25, 2017.