Global Tax Free Co., Ltd. announced a private placement of 2,982,951 common shares at a price of KRW 3,520 per share for gross proceeds of KRW 10,499,987,520 on March 14, 2022. The transaction will include participation from Chang-jin Ji for 2,130,681 shares, Jung Hoon Kim for 227,272, Seong-moon Jeong for 5,227 shares, Excelen Partners Co., Ltd. for 113,636 shares, B.O.B. for 255,681 shares, Dongil Ahn for 56,818 shares, Kyung-ri Park for 56,818 shares and Lee, Hyunsoo for 56,818 shares. The company is raising funding through third party allotment method.

The payment date is March 31, 2022. All securities issued in the transaction have a hold period of one year. The transaction has been approved by the board of directors.