Ulleung Water Co, Ltd announced that it will issue 100,000 shares at an issue price of KRW 200,000 per share for proceeds of KRW 20,000,000,000 on July 27, 2023. The transaction will include participation from returning investor LG H&H Co., Ltd. The transaction was approved by the board of directors of the company. The company will receive funding through third party allotment.

Post to the closing, the investor will acquire 87.44% stake in the company.