K-Safe Salmon Co. Ltd. announced that it expects to receive KRW 2 billion in funding from GS Engineering & Construction Corporation

K-Safe Salmon Co. Ltd. announced a private placement of 200,000 common shares at a price of KRW 10,000 per share for gross proceeds of KRW 2,000,000,000 on May 24, 2024. The transaction include the participation from returning investor GS Engineering & Construction Corporation, hold 85.4% post-investment stake in the company.

The transaction has been approved by the board of directors of the company. The shares are issued through shareholder allocation increase method. The expected payment date is May 31, 2024.