Hyosung Steel Cord (Qingdao) Co., Ltd. announced that it will receive KRW 11,681,000,000 in an equity round of funding from returning investor Hyosung Advanced Materials Corporation on August 27, 2021. The investor will retain 100% stake in the company. The transaction has been approved by the board of directors of the investor. The transaction is expected to close on September 15, 2021.