Hyosung Steel Cord (Qingdao) Co., Ltd. announced that it will receive KRW 41,628,700,000 in equity funding from Hyosung Advanced Materials Corporation (KOSE:A298050) on December 20, 2018. The transaction has been approved by the board of directors of the investor. The transaction is expected to close on December 28, 2018. The company reported total assets of KRW 138,859,802,132, revenue of KRW 107.709.015.427, and net income of –KRW 16,513,499,427 for the year ended December 31, 2017.