Hyosung Spandex(Ningxia) Co., Ltd. announced that it will raise KRW 95,830,000,000 in an equity round on May 16, 2024. The transaction will include participation from returning investors, Hyosung TNC Corporation. The transaction has been approved by board of directors and is expected to close on December 31, 2024.

Post to the transaction, Hyosung TNC Corporation will hold 75% stake in the company. The investment will be made in installments.