Seoul Credit Rating Inc. announced a private placement of 300,000 shares at KRW 5,000 per share for gross proceeds of KRW 1,500,000,000 on May 13, 2016. The shares have par value of KRW 5,000 each and will be issued at par. The shares will be subscribed by existing investor SCI Information Service Inc. For every single existing share, the investor will receive 0.3 new shares. The subscription period will begin and end on May 17, 2016. The transaction is expected to be completed by May 18, 2016. The transaction has been approved by the board of directors of the investor.