LUKEN Technologies Co., Ltd. (XKON:A162120) announced a private placement of 210,526 redeemable convertible preferred stock at a price of KRW 9,500 per share for gross proceeds of KRW 1,999,997,000 on July 30, 2018. The transaction will include participation from KTB Asset Management Co., Ltd's Fund 1 for 189,473 preferred shares and Fund 2 for 21,053 preferred shares. The preferred shares can be convertible into common stock during August 8, 2018 to August 7, 2028. The transaction is expected to close on August 7, 2018. The transaction was approved by the board of directors.