Beijing Saejin Automobile Part Co., Ltd. (China) announced that it will receive KRW 1,223,400,000 in a round of funding from existing investor, Sae Dong Co. Ltd on June 17, 2014. The transaction is expected to close on June 30, 2014.

On closing, the investor will continue to hold 100% stake in the company. The transaction was approved by the board of directors of the company. The company reported total assets of KRW 6,940,000,000, total stockholders' equity of KRW 5,351,000,000, revenues of KRW 8,365,000,000, and net loss of KRW 304,000,000 for the financial year ended December 31, 2013.