announced private placement of 1,300,000 shares at a price of KRW 1,515 per share for gross proceeds of KRW 1,969,500,000 with Choi Joon-seok on December 27, 2016. The company issued shares at a premium to par value of KRW 500 per share through third party allotment method. The number of shares increased from 24,732,185 shares to 25,032,185 shares. The shares issued are subject to lockup for 1 year. The transaction has been approved by the board of directors of the company.