Young Chang entered into bankruptcy, emerging in August 1998. Young Chang has more than 2,000 full-time workers, designing and building its upright and grand pianos, and also the electronic Kurzweil Music Systems. In 2004, Samick Musical Instrument Co. acquired a 48.13% stake in Young Chang, gained a controlling interest through a capital increase, and took control over management of the company. However, the Korea Fair Trade Commission blocked the acquisition as it would create a monopoly and ordered Samick to dispose of its shares in Young Chang. Following the Fair Trade Commission's decision, Young Chang went bankrupt on September 21, 2004. Hyundai Development Company acquired Young Chang in 2006. The company was renamed to HDC Young Chang in 2018. See also Samick Weber Piano Company References External links Companies based in Incheon Engineering companies of South Korea Manufacturing companies established in 1956 Musical instrument manufacturing companies of South Korea Piano manufacturing companies South Korean brands