East Seoul Underpass Company announced that it will issue 2,221,808 shares at a price of KRW 4,999.981996 per share for gross proceeds of KRW 11,108,999,998.56877 on November 9, 2023. The transaction will include participation from returning investor, Daewoo Engineering & Construction Co., Ltd. to retain the majority stake in the company. The transaction is expected to close on December 1, 2023.

The transaction has been approved by the board of directors of the company.