Gurum Company Inc. announced a private placement of first unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 600,000,000 on October 20, 2016. The bonds will be issued at par. The bonds will carry fixed coupon of 5% per annum and yield to maturity of 5%. The bonds will mature on October 25, 2019. The bonds will be 100% convertible into common shares of the company at a fixed conversion price of KRW 6,340 per share from October 25, 2017 to September 25, 2019. Wansoo Kim, Geunho Lee, and Juhwa Park each will subscribe bonds for KRW 100,000,000, KRW 200,000,000, and KRW 300,000,000 respectively. The payment date is October 25, 2016. The board of directors of the company approved the transaction.