Hurim Robot Places All Diark Shares Under Lock-Up... 'Strengthening Responsible Management'

Stabilizing Management and Maintaining Continuity of Existing Business through Outside Director-Centered Board
Risk Resolution by Clearing Previous Major Shareholder's Stake

[Asia Economy Reporter Hyungsoo Park] Hurim Robot has acquired Diarc and pledged voluntary lock-up on its held shares. This expresses its intention to actively nurture Diarc through stable governance and responsible management.

Hurim Robot announced on the 31st that it invested 10 billion KRW in Diarc's paid-in capital increase, acquiring 50 million new shares. Earlier, on the 19th, Hurim Robot acquired 3,949,444 shares of Diarc held by JDR Asset for 6.319 billion KRW. Hurim Robot has become the largest shareholder with a 40.59% stake in Diarc. Hurim Robot decided to place all its Diarc shares under lock-up.

A Hurim Robot official explained, "We sold all shares held by the previous largest shareholder and laid the foundation to strengthen responsible management," adding, "After acquiring the shares, Hurim Robot is pursuing normalization of Diarc's management through a series of measures to reduce governance risks."

The previous largest shareholder of Diarc, Withwin Investment Association No. 38, sold 5,900,943 shares of Diarc (7.13% stake) on the 30th to 'Maywind' and 'L Plus No.1 Association and one other.' The sale price was 1,000 KRW per share, totaling 5.9 billion KRW, with the payment due date on December 15. Hurim Robot explained that this resolved Diarc's governance risks.

Hurim Robot replaced all related executives, including the former CEO of Diarc, and formed a board of directors centered on outside directors. The newly appointed CEO of Diarc, Seol Jeong-ho, previously served as Head of Management Planning and Head of CR at Hyundai Asset Management. The company stated that CEO Seol is the right person to improve Diarc's management environment and establish a stable business structure.

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