Daewoo Electronic Components Co., Ltd. (KOSE:A009320) announced a private placement of 689,655 common shares issued at KRW 1,450 per share for gross proceeds of KRW 999,999,750 on July 6, 2016. The transaction will include participation from KB Investment Co., Ltd.. The shares are issued through a third party allotment method. The transaction has been approved by the board of directors. The transaction is expected to close July 26, 2016. 50% of the shares will be subjected to a lock-up for 1 year and the remaining 50% of the shares will be subjected to a lock-up until December 15, 2019.