Tancheon E&E announced that it will raise KRW 7,500,000,000 in a round of funding from existing investors POSCO and Posco E&E Co., Ltd. on January 18, 2013. The company will issue 1,500,000 shares at KRW 5,000 per share on a pre-emptive rights basis to the investors. POSCO will subscribe to 75,000 shares and Posco E&E Co., Ltd. will subscribe to 1,425,000 shares and maintain their 5% and 95% stakes in the company respectively.

The transaction is expected to close on January 30, 2013.