Hanchang Corporation announced a private placement of 13,636,364 shares, having par value of KRW 500, at an issue price of KRW 660 per share, for gross proceeds of KRW 9,000,000,240 on March 29, 2023. The transaction will include participation from new investor Asher Corporation. The shares to be issued in the transaction will be subject to a one-year hold period from date of issuance.

The transaction has been approved by the board directors. The transaction is expected to close on April 20, 2023.