TONGYANG TS Inc. announced a private placement of 2,400,000 common shares at a price of KRW 5,000 per share for gross proceeds of KRW 12,000,000 on December 27, 2017. The transaction involved participation from existing investor Solueta Co., Ltd. (KOSDAQ:A154040). The investor now holds 2,715,401 shares accounting for 50.17% stake in the company. The transaction has been approved by the board of directors of the investor.