An unknown buyer signed a contract to acquire 30% stake in Taewoong Co. Ltd. from Yong Do Huh and Pan-Yeon Park for KRW 80.4 billion.

TAEWOONG CO.,LTD is a Korea-based company engaged in the manufacture of forging parts for heavy industries. The Company's product portfolio consists of products for shipbuilding and shipping engines, including piston rods, piston crowns, connecting rods, cylinder covers, propeller shafts, cross heads and others; products for wind power equipment, including main shafts, tower flanges, bearings and others; products for nuclear power plants, including inner webs, outer rings and others; products for industrial plants, including forging parts used for hot exchangers, pressure vessels, feedwater heaters, gas strippers and others, as well as products for industrial machineries, including shafts, gears, wheels, tire rings and others. The Company distributes its products within domestic market and to overseas markets.