Ulsan GPS Corporation announced a private placement of 21,000,000 common shares at a price of KRW 5,000 per share for gross proceeds of KRW 105,000,000,000 on April 14, 2022. The transaction will include participation from returning investor SK Gas Co., Ltd. to hold 99.48% stake in the company through shareholder allocation. The transaction has been approved by the board of directors of the company.

The subscription date is on May 10, 2022. The payment date is on May 12, 2022. The shares are being issued at par value.