UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of [June] 2005

MIRAE CORPORATION

(Translation of registrant’s name into English)

#9-2, CHA AM-DONG, CHUN AN, CHUNG CHONG NAM-DO 330-200

REPUBLIC OF KOREA

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ( ü ) No Form 40-F ( )

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes ( ) No ( ü )

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- .

The registrant files with the Korea Securities Exchange the notice dated June 2229, 2005. Attached is English language version of the notice.

The following table sets forth the summary of the ~~Disaffiliation~~product ofand ~~Affiliated~~service ~~Company~~transaction with CyberBank Corporation.

1. Details of Change		Disaffiliation of Affiliated Company
1.The other party to the contract		CyberBank Corporation
2. Affiliated Company	Company Name	Mirae America Inc.
- Relationship with company		Affiliated Company
	Representative	Hyung Yun Lee
2.Details of Transaction	Transaction Date	June 29, 2005
	Condensed Balance Sheet (KRW)	Total Asset	2,344,267,685	Total Shareholders’ Equity	-750,840,109
	Transaction Period	From June 29, 2005 to September 30, 2005
		Total Liabilities	3,095,107,794	Capital Stock	208,760,000
	Object of Transaction	Smart Phone
	Main Business	Market SMD Placement System and Semiconductor Test Handler in the continent of America.
	Type of Transaction	Purchase
	Others	-
	Transaction Amount (KRW)	2,231,502,888
3. Name of Affiliated Group		Mirae Corporation
	Sales in the latest fiscal year (KRW)	59,654,075,836
4. Reason for Disaffiliation		To enhance business operation through dissolution of Mirae America Inc. as a part of the corporate restructuring.
	Ratio to Sales in the latest fiscal year (%)	3.74
5. Majority Shareholder’s shareholding Ratio after Disaffiliation (%)		0.00
3.Decision Date (Date of Board Resolution)		June 29, 2005
6. Number of Affiliated Companies After Change		7
- Attendance of Outside Directors		Present (No) 3 Absent (No) -
7. Date of Change		June 22, 2005
- Attendance of Auditors		Present
8. Others		- Condensed Balance Sheet of Item 2 is based on the end of the fiscal year 2004 and the exchange rate was applied to US$ 1.00 into 1,043.80 Won as of December 31, 2004. - Date of change of Item 7 is on the basis of date on causes of dissolution for investment company.
4.Applicability of Fair Trade Act		No
Date of Relevant Disclosure		-
5.Others		-Transaction date on item 2 is a date of Board Resolution and above transaction amount may be changed in the course of export by fluctuation in exchange rate. -Transaction amount on item 2 is based on certain period from June 29, 2005 to September 30, 2005 and total amount for the fiscal year of concerned is 4,716,642,783 and ratio to sales in the latest fiscal year is 7.91%.
Date of Relevant Disclosure		April 26, 2005

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: June 2229, 2005


By		/s/ MiRi Chung
		Mi-Ri Chung
		Mirae Corporation
		Public Disclosure Representative
		Of Investor Relations Team

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