Hyundai Department Store Duty Free Co., Ltd. announced a private placement of 2,000,000 common shares at an issue price of KRW 0.275 per common share for the gross proceeds of KRW 550,000 on May 9, 2023. The transaction will include participation from returning investor Hyundai Department Store Co. Ltd. The transaction has been approved by the board of directors of the company.

The transaction is expected to close on May 25, 2023.