Global Tax Free Co., Ltd. announced a private placement of series 4th unregistered nonguaranteed private exchangeable bond for gross proceeds of KRW 1,200,000,000 on August 10, 2021. The transaction will include participation from Jin Frontier Investment Association. The bonds carry a coupon rate of 0% and yield to maturity of 0%. The maturity date of bonds is January 05, 2024. The bonds are 100% convertible into 347,021 common shares for a stake of 0.71% of the company at a conversion price of KRW 3,458 from September 13, 2021 to December 05, 2023. The transaction has been approved by board of directors of the company. The payment date is August 13, 2021.