SEWON E&C CO., Ltd. announced a private placement of 18,549,747 common shares at an issue price of KRW 593 per share for the gross proceeds of KRW 10,999,999,971 on December 28, 2022. The transaction will include participation from Infinity Group Korea. The shares are allotted through third party allocation method.

The transaction has been approved by shareholders of the company. The transaction is expected to close on February 1, 2023.