Hyundai Special Steel Company announced a private placement of 10,000,000 common shares at a price of KRW 5,000 per share for gross proceeds of KRW 50,000,000,000 on October 26, 2020. The shares will be issued at a premium of 400%. The number of new shares allocated per share is 0.5. The company will raise funding through shareholder allocation increase method. The shares to be issued have a face value of KRW 1,000 per share. The transaction has been approved by the board of directors of the company. The company expects to close the transaction on November 9, 2020.