Decision for Massive 97.33 Million Share Debt-to-Equity Swap Under Rehabilitation Plan

Issuance of 97,328,655 new shares (at par value of KRW 500 per share) for debt-to-equity conversion of rehabilitation claims, resulting in massive dilution of 628% compared to existing shares (15,486,089 shares)
New share issuance price of KRW 500, approximately 95% discount to current market price of KRW 10,280
Allocated to 10 rehabilitation creditors including Korea Development Bank, with no cash inflow; purely debt restructuring
Plan to cancel fractional shares without compensation and conduct additional capital reduction after the rights offering
Existing shareholders' ownership will be significantly diluted, but the purpose is to ensure business continuity through completion of rehabilitation proceedings