Sangwoo Development Company Inc. announced a private placement of 566,667 shares at a price of KRW 30,000 for the gross proceeds of KRW 17,000,010,000 on December 19, 2019. The transaction will include participation from returning investor Halla Corporation (KOSE:A014790). The transaction has been approved by the board of directors of the investor. The transaction is expected to close on December 27, 2019.