Jeju Daedong Industrial Co.,Ltd announced a private placement of 1,760,000 common shares at a price of KRW 10,000 per share for gross proceeds of KRW 17,600,000,000 on June 7, 2018. The transaction included participation from existing investor Daedong Industrial Co., Ltd. (KOSE:A000490). Post the closing the investor maintained 100% stake in the company. The transaction was approved by the board of directors of the company. The company reported total assets of KRW 12,888,940,180, total liabilities of KRW 165,322,448, revenue of KRW 0, and net loss of KRW 331,812,860 for the year ended December 31, 2017.