ChunLab, Inc. announced a private placement of 1,954,924 common shares at an issue price of KRW 37,465 per share for gross proceeds of KRW 73,241,227,660 on July 21, 2021. The transaction will include participation from CJ Cheiljedang Corporation. The company will issue shares through third party allotment method.

The transaction has been approved by the board of directors of the company. The securities issued are subject to restriction period of one year. The payment date is October 29, 2021.