Global Tax Free Co., Ltd. announced a private placement of convertible bonds for a gross proceeds of KRW 12,200,000,000 on October 14, 2021. The transaction will include participation from largest shareholder and related persons. The bonds have a coupon rate of 0% and yield to maturity of 2%. The bonds will be converted into common shares at a fixed conversion price of KRW 3,782 per share. The payment date of the transaction is October 29, 2021.