Seoul Auction Co. Ltd. announced a private placement of 856,767 shares at issue price of KRW 32,681 per share for gross proceeds of KRW 28,000,002,327 on December 29, 2021. The transaction will include participation from Shinsegae Inc. The transaction is expected to close on January 6, 2022.

The transaction has been approved by the board of directors of the company. The shares issued are subject to restriction period of one year.