Sangsu Ulsan Energy Co., Ltd. announced a private placement of 37,838 common shares at a price of KRW 5,000 per share for gross proceeds of KRW 189,190,000 on January 23, 2019. The transaction will include participation from Taeyoung Engineering & Construction Co.,Ltd. (KOSE:A009410). The company will allot 0.021342568 new shares allocated per 1 existing share. The transaction is expected to close on January 31, 2019. The transaction was approved by the board of directors of the company.