Seong An Textile S.A.E announced a private placement of 94,800 shares at KRW 57,631.139240 per share for gross proceeds of KRW 5,463,431,999.952 on December 7, 2015. The transaction included participation from a returning investor, Seong An co., Ltd for 46,800 shares and new investors for 48,000 shares. As part of the transaction, the new investors acquired 48% stake in the company.

The stake of Seong An co., Ltd dilute from 100% to 52% in the company.