Daejeon Shinsegae Inc. announced a private placement of 500,000 common shares at an issue price of KRW 50,000 for gross proceeds of KRW 25,000,000,000 on April 10, 2018. The transaction will involve participation from returning investor Shinsegae Inc. (KOSE:A004170). Post the closing of the transaction, the investor's investment in the company will amount to KRW 36,000,000,000. The transaction is expected to close on May 31, 2018. The transaction was approved by the board of directors of the investor.