WebCash Corporation announced a private placement of 416,493 common shares at an issue price of KRW 34,651 per share for gross proceeds of KRW 14,431,898,943 on June 16, 2021. The transaction will include participation from KT Corporation. The shares have a face value of KRW 500 per share.

The company will issue securities using third party allocation method. The transaction was approved by the board of directors of the company. The securities to be issued pursuant to the transaction are subject to a hold period of one year.

The transaction is expected to close on July 2, 2021.