announced a private placement of series 24 non-guaranteed private equity convertible bonds with bearer type interest part for a gross proceeds of KRW 12,900,000,000 on May 24, 2022. The transaction will include participation from Jo, Cheol for KRW 3,700,000,000; Jo, Ji-hye for KRW 1,600,000,000; Jeong, Hyun-joo for KRW 1,500,000,000; Hong, Eun-jin for KRW 900,000,000; Lee, Seong-jin for KRW 400,000,000; Seo, Hye-seung for KRW 400,000,000; Yoon, Chi-ho for KRW 300,000,000; Han, A-ri for KRW 300,000,000; Na, Yeon-an for KRW 1,300,000,000; Kim, Jeong-hee for KRW 800,000,000; Ji, Kyung-taek for KRW 300,000,000; Yoon, Hyung-sik for KRW 300,000,000; Yang, Kwan-un for KRW 600,000,000; Quad Investment Management Corp. for KRW 500,000,000.

The bonds will mature on May 25, 2052. The bonds will be 100% converted into 6,450,000 common shares at a fixed conversion price of KRW 2,000 per share for an equity stake of 28.34%. The conversion period is from May 25, 2023 to April 25, 2052.

The payment date of the transaction is May 25, 2022. The securities issued in the transaction are subject to a lock up period of one year. The transaction has been approved by the board of directors of the company.