LUKEN Technologies Co., Ltd. (XKON:A162120) announced a private placement of 105,263 redeemable convertible preferred stock at a price of KRW 9,500 per share for gross proceeds of KRW 999,998,500 on August 10, 2018. The transaction will include participation from Boston Wipungdangdang Contents Korea Fund, a fund managed by GB Boston Venture Capital. The preferred shares can be convertible into common stock during August 18, 2020 to August 16, 2028. The transaction is expected to close on August 17, 2018. The transaction was approved by the board of directors.