Convertible Bond and Bond with Warrant Issuance Limit Increased 10-Fold to 100 Billion KRW, Raising Dilution Concerns

The articles of incorporation are amended to increase the issuance limit for convertible bonds (CB) and bonds with warrants (BW) from 10 billion KRW to 100 billion KRW, a 10-fold expansion.
The limit is calculated without deducting previously issued bonds, allowing up to 100 billion KRW in additional potential equity dilution.
Relative to the current market cap of approximately 301.7 billion KRW, the new limit (100 billion KRW) represents about 33%, and the increase lacks specific use of proceeds, which is negative.
No shareholder return policies (share buyback/cancellation or dividend) are disclosed.

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