Hanryu A.I. Center Co.,Ltd. (KOSDAQ:A222810) announced private placement of 6,688,400 shares at a price of KRW 897 per share for gross proceeds of KRW 5,999,494,800 with existing investor PAXNet, Inc. (KOSDAQ:A038160) on December 30, 2019. The investor will hold 26.15% stake in the company through third party method. The transaction has been approved by the board of directors of the company.