ILJIN Composites Co., Ltd. announced that it will receive gross proceeds of KRW 19,999,990,000 in a round of funding on November 9, 2019. The company will issue 235,294 common shares at a price of KRW 8,5000 per share in the transaction. The investor will acquire 19.4% stake in the company.

The transaction has been approved by the board of directors of the investor.