Myoung Shin Co.,Ltd announced a private placement of 611,752 common shares at a price of KRW 43,073 per share for gross proceeds of KRW 26,349,993,896 from existing investor MS Autotech Co.,Ltd (KOSDAQ:A123040) on June 24, 2019. The investor will continue to hold 100% stake in the company post the closing of the transaction. The transaction is expected to close on July 24, 2019. The transaction is approved by the board of directors.