Jeju Air Co., Ltd. announced a private placement of 13,756,269 shares at a price of KRW 7,980 per share for gross proceeds of KRW 109,775,026,620 through capital increase from returning investor AK Holdings, Inc. on November 1, 2022. Post the closing, the investor will hold 50.8% stake in the company. The transaction has been approved by the board of directors of the company.