The StoryWorks Co., Ltd. announced a private placement of 3,200,000 shares at a price of KRW 1,250 per share for gross proceeds of KRW 4,000,000,000 from existing investor Seoul Broadcasting System (KOSE:A034120) on May 17, 2019. Investor will continue to own 100% stake in the company. The transaction has been approved by the board of directors of the company. The shares have a face value of KRW 500 per share.