Shareholders are informed of the "Decision to Issue Securities Depository (DR)" announced today.

The Company decided to issue Securities Deposits (DRs) on the U.S. over-the-counter market on December 27, 2023 by the resolution of the Board of Directors in order to enhance the corporate image at home and abroad and to meet the demand of U.S. investors who have difficulty in direct domestic investment. 

Securities deposit securities (ADRs) that we have decided to issue are not issued based on new shares or treasury stocks, but are already issued and distributed in the market by J.P. Morgan Chase Bank, N.A. and the Korea Securities Depository, and based on this, we issue ADRs so that J.P. Morgan Chase Bank, N.A., a U.S. DR depository, can be traded in the over-the-counter market. 

As stated in the disclosure, this ADR will be listed and traded on the U.S. OTC on December 29, 2023. The total issuance limit is 23,220,012 ADR, which is equivalent to 5,805,003 common shares circulated in Korea when converted to 0.25 per DR. (The issuance limit is the maximum number of shares that can be issued and the actual number of ADRs that will be listed and circulated is flexible.)

 With the issuance of ADR and the listing on the over-the-counter market in the United States, the base of foreign investors will expand further. We expect that it will enhance corporate image at home and abroad, increase credibility, and thereby contribute to business activities and financing. In addition, the website provides transparent disclosure information to investors around the world.

We will further improve the transparency of accounting information by posting English disclosures. 

In the future, Geumyang will do its best to become a trusted company by shareholders and various stakeholders of the company.

Thank you.

Reparations for Jang Ho-cheol, managing director of disclosure