Carrot Co., Ltd announced a private placement of 9,288,000 common shares at a price of KRW 5,000 per share for gross proceeds of KRW 46,440,000,000 on May 25, 2021. The transaction will include participation from returning investor Hanwha General Insurance Co., Ltd. (KOSE:A000370) to retain its 49.02% stake in the company. The transaction has been approved by the board of directors of the company.