Ulsan Newport Cotainer Terminal Co., Ltd. announced a private placement of 3,000,000 shares at KRW 5,000 per share for gross proceeds of KRW 15,000,000,000 on March 18, 2015. The transaction will include participation from existing investor, Dongbang Transport Logistics Co., Ltd. On closing, the investor will hold 41.5% stake in the company. The closing date for the transaction is expected on March 30, 2015.

The transaction was approved by the board of directors of Dongbang Transport Logistics Co., Ltd.