Yong Won Development Co., Ltd. announced a private placement of 38,810 shares at a price of KRW 644,164 per share for gross proceeds of KRW 25,000,004,840 on October 30, 2017. The transaction includes participation from returning investor, MH Ethanol Co.,Ltd. (KOSE:A023150). The investor will now hold 51% stake in the company and 49,960 shares. The shares are issued through third party capital increase method. The transaction has been approved by the board of directors of the company. The company reported total assets of KRW 351,119,031,473, total liabilities of KRW 294,286,701,825, net assets of KRW 56,832,329,648, operating revenue of KRW 19,073,409,144, and net profit of KRW -3,856,842,160 for the year ended December 31, 2016.