Naver Financial Corporation announced that it will issue 214,477 common shares at a price of KRW 1,865,000 per common share for gross proceeds of KRW 399,999,605,000 and 214,094 convertible preferred shares at a price of KRW 1,865,000 per preferred shares for gross proceeds of KRW 399,285,310,000, for aggregate gross proceeds of KRW 799,284,915,000 on December 13, 2019. The common shares and preferred shares have a face value of KRW 5,000 per share each. The transaction will include participation from new investors, Mirae Asset Daewoo Co., Ltd., Investment Arm for 364,227 shares, Mirae Asset Capital Co,Ltd., Investment Arm for 26,810 shares, Mirae Asset Life Insurance Co., Ltd. for 26,810 shares, Mirae Asset Fund Services Co., Ltd. for 10,724 shares. The shares are issued through a third-party allotment method. The transaction has been approved by the board of directors of NAVER Corporation, parent of the company. The payment date of the transaction is January 15, 2020.