Daejeon Shinsegae Inc. announced a private placement of 80,000 common shares at an issue price of KRW 50,000 for gross proceeds of KRW 4,000,000,000 on January 5, 2018. The transaction will involve participation from Shinsegae Inc. (KOSE:A004170). The shares were issued at a premium. Post the closing of the transaction, the shares issued by the company will increase from 140,000 to 220,000. The transaction is expected to close on January 9, 2018. The transaction was approved by the board of directors of the company.