announced a private placement of 1 unregistered unguaranteed private convertible bond for gross proceeds of KRW 15,000,000,000 on December 12, 2019. The transaction will include participation from Engis Systems, Inc. The bonds will be issued at 0% coupon rate, 0% yield to maturity rate, and will mature on December 13, 2022. The bonds can be 100% converted into 2,296,035 common shares for 18.60% stake in the company at a fixed conversion price of KRW 6,533 per share. The conversion period is from December 13, 2020 to November 13, 2022. The transaction has been approved by the board of directors of the company. The payment date is December 13, 2019.