Kyobo Securities Co.,Ltd. announced a private placement to issue 49,309,665 shares of common stock at an issue price of KRW 5,070 per share for the gross proceeds of KRW 250,000,001,550 on August 22, 2023. The transaction will include participation from returning investor Kyobo Life Insurance Co., Ltd. The transaction has been approved by the shareholders of the company. The transaction is expected to close on August 30, 2023.

The shares are restricted to hold period of 1 year.