Global Tax Free Co., Ltd. announced a private placement of 7,254,261 common shares at a price of KRW 2,757 per share for gross proceeds of KRW 19,999,997,577 on December 3, 2020. The transaction will include participation from JSI Global Co., Ltd. The company is raising funding through third party allotment method. The payment date is February 16, 2021. All securities issued in the transaction have a hold period of one year. The transaction has been approved by the board of directors.