XI Mechanics Co., Ltd. announced a private placement of 200,000 common shares at a price of KRW 5,000 per share for gross proceeds of KRW 1,000,000,000 on October 25, 2022. The transaction will include participation from returning investor GS Engineering & Construction Corporation through shareholder allocation to retain its 100% stake holding in the company. The transaction has been approved by the board of directors of the investor.