Weco Co., Ltd. announced private placement of 2,680,000 shares at a price of KRW 50,000 per share for gross proceeds of KRW 134,000,000,000 on September 6, 2021. The transaction will include participation from existing investor Halla Holdings Corp. The transaction is expected to close on September 7, 2021.

The transaction has been approved by board of directors of the investor. The transaction is subject to approval of Fair Trade Commission.