GeumVit Corp. (KOSDAQ:A045890) announced private placement of 20,000,000 shares at a price of KRW 500 per share at10% discount for gross proceeds of KRW 10,000,000,000 on December 23, 2020. The shares will be issued at par. The transaction will include participation from Geun-jin Park, Myunghee Kim, Eunjoo Park, Yoo-taek Lim, and Hyung-geun Kim for 4,000,000 shares each through third party allocation method. The shares are subject to 1 year hold period. The expected payment date is January 7, 2021. The transaction has been approved by the board of directors of the company. The securities are issued through third party allotment.