Shinsegae Chosun Hotel Inc. announced that it will issue 6,081,985 common shares at an issue price of KRW 16442.000432 per share for gross proceeds of KRW 99,999,999,997.41752 on May 28, 2024. The transaction will include participation from returning investor, E-MART Inc. The transaction has been approved by the board of directors. The company is expected to close the transaction on June 24, 2024.