Gyeonggi Pyeongtaek Global Co., Ltd. announced a private placement of 260,000 common shares at a price of KRW 5,000 for the gross proceeds of KRW 13,000,000,000 on August 14, 2020. The transaction will include participation from GS Global Corp. (KOSE:A001250) for 117,000 shares for gross proceeds of KRW 585,000,000 and GS Engineering & Construction Corporation (KOSE:A006360) for 78,000 shares for KRW 390,000,000, and other investors.

The transaction is expected to close on August 28, 2020. The transaction has been approved by board of directors of the company.