Daejeon Shinsegae Inc. announced a private placement of 1,600,000 common shares at a price of KRW 50,000 per share for gross proceeds of KRW 80,000,000,000 on April 14, 2020. The par value of the shares issued in the transaction is KRW 5,000. The transaction will include participation from returning investor Shinsegae Inc. (KOSE:A004170). The transaction is expected to close on April 16, 2020. The transaction has been approved by the board of director of the investor.