Joosung Corperation announced a private placement of issue 16,000,000 common shares at a issue price KRW 500 per share for gross proceeds of KRW 8,000,000,000 on December 18, 2023. The transaction will include participation from new investor, B & P Joosung Corp. The bonds will be issued at par.

The company will issue the shares through Third party allocation capital increase method. The payment date is December 26, 2023. The transaction has been approved by the board of directors of the company.