Iljin Power Acquires Additional Shares in Subsidiary Jincheon Green Energy, Increasing Stake to 80%

Iljin Power announced on the 16th that it will additionally acquire 3,002,561 shares of its subsidiary Jincheon Green Energy for approximately 15 billion KRW.

After the stock acquisition, Iljin Power's stake in Jincheon Green Energy will be 80%. The scheduled date for the stock acquisition is the 29th.

The company explained the purpose of this stock acquisition as "capital increase to raise project funds for the Special Purpose Company (SPC)."