ZUM Internet Corp. (XKON:A229480) announced a private placement of series 1 unregistered unguaranteed private convertible bonds for gross proceeds of KRW 3,000,000,000 on July 18, 2018. The transaction will involve participation from Mirae Asset Daewoo Co., Ltd., Investment Arm. The bonds will be fully convertible into 675,675 shares at a conversion price of KRW 4,440 from July 19, 2019 to June 19, 2023. The bonds will carry a zero coupon rate and a yield to maturity of 1%. The expected payment date and subscription date of the transaction is July 19, 2018. The bonds will mature on July 19, 2023. The transaction was approved by the board of directors of the company.