Jb Dangjin Ferrumvill Investment Type Private Investment Limited Liability Company announced a private placement of 500,000 equity shares at a price of KRW 10,000 per equity share for gross proceeds of KRW 5,000,000,000 on September 22, 2022. The transaction will include participation from returning investor Dongkuk Steel Mill Company Limited for 87.01% stake, currently owns 81.89% stake. The transaction has been approved by the board of directors of the company.

The company will issue shares through shareholder allocation.