KUMHO Terminal Operation Co. Ltd. announced a private placement of 4,600,000 common shares at a price of KRW 5,000 per share for gross proceeds of KRW 23,000,000,000 on April 4, 2022. The company will receive funding through shareholder allocation.

The transaction will include participation from returning investor Kumho Petrochemical Co., Ltd. to retain 100% stake in the company. The transaction was approved by the board of directors of the company. The transaction is expected to close on April 5, 2022.