ELK Corporation (KOSDAQ:A094190) announced a private placement of 2,234,636 common shares of par value KRW 500 at KRW 895 per share for gross proceeds of KRW 2,000,000,000 on August 22, 2018. The transaction will include participation from Jeong Jong-ku for 1,307,262 shares and Lee Seung-eon for 927,374 shares. The common shares have a lock up period of 12 months. The transaction has been approved by the board of directors of the company. The transaction is expected to close on August 30, 2018.