Korea Gongjin Industrial Co., Ltd. announced that it will issue 4,000,000 shares in rights issue at an issue price of KRW 1,750 per share for proceeds of KRW 7,000,000,000 on August 30, 2023. The transaction will include participation from returning investor Aloys Inc. The stake of the investor will increase from 16.22% to 22.4%. The transaction is expected to close on September 7, 2023.

The transaction has been approved by the board of directors of Aloys Inc.