LS Cable & System U.S.A., Inc. announced that it expects to receive KRW 6.02 billion in funding from GAON CABLE Co., Ltd.

LS Cable & System U.S.A., Inc. announced a private placement of 5,400 common shares at KRW 1,114,074 per share for gross proceeds of KRW 6,016,000,000 on March 30, 2017. The transaction will include participation from new investor GAON CABLE Co., Ltd. (KOSE:A000500). The investment date is April 17, 2017. The transaction has been approved by the board of directors of the investor.