The Board of Directors of Woory Corporation (KOSDAQ:A072470) agreed to spin off entire automobile part manufacturing and sales business division on October 17, 2014. The shareholders of Woory Corporation on the allocation record date will receive 0.5835490 shares of entire automobile part manufacturing and sales business division for 1 share held. The newly established company will be named Woory Industrial Co., Ltd. to hold entire automobile part manufacturing and sales business division and the surviving company will be named Woory Industry Holdings Co., Ltd to hold investment business division except the business division to be spun-off. Board of Directors of Woory Corporation made a resolution in favor of the transaction on October 17, 2014. The spinoff is subject to approval by shareholders of Woory Corporation. The general meeting of stockholders for the spin-off approval has been revised to February 26, 2015 from January 27, 2015. As of February 26, 2015, the spinoff was approved by shareholders of Woory Corporation. The spinoff will take place on March 1, 2015. The expected closing date has been revised to April 1, 2015. Scheduled change listing date and re-listing date has been revised to May 6, 2015 from April 10, 2015.

Woory Corporation (KOSDAQ:A072470) completed the spinoff of entire automobile part manufacturing and sales business division for KRW 155.3 billion on April 6, 2015.