On November 22, 2022, Yulho Co., Ltd closed the transaction. The company has issued series 7 non-guaranteed private equity convertible bonds for gross proceeds of KRW 16,000,000,000. The transaction included participation from new investor Seobo Industrial Co., Ltd. The transaction has been approved by the board of directors of the company.

The company will pay no interest on the bonds and interest rate to maturity is 3%. The bonds are convertible into 9,014,084 shares at conversion price of KRW 1,775 from April 26, 2022 to March 25, 2025. The bonds will mature on November 22, 2025.