Fact Source: Financial Supervisory Service DART
💡 3-Second Summary
Hanwha Ocean has filed a correction disclosure regarding the guarantee period (Start Date: April 9, 2026; End Date: June 19, 2029) for its debt guarantee provided to affiliate Sinan Oui Offshore Wind Power Co., Ltd., which covers liabilities in the event of non-fulfillment of responsible completion for the Sinan Oui Offshore Wind Power project.
📊 [Key Disclosure Details & Financial Figures]
- Key Correction Details:
- Debt Guarantee Period Start Date: March 31, 2026 ➔ Corrected to April 9, 2026 (Scheduled execution date of the sponsor agreement)
- Debt Guarantee Period End Date: May 30, 2029 ➔ Corrected to June 19, 2029 (Scheduled overall completion date of the project)
- Text Revision in Other Remarks: Removed the sentence stating “a re-disclosure will be made upon agreement execution” regarding the start date
- Reason for Correction: Correction of debt guarantee period
- Overview of Provision of Debt Guarantee for Others:
- Debtor: Sinan Oui Offshore Wind Power Co., Ltd. (Affiliate)
- Creditors: Korea Development Bank, Kookmin Bank, Shinhan Bank, Hana Bank, Woori Bank, NongHyup Bank, Industrial Bank of Korea, and other lenders
- Debt Amount & Debt Guarantee Amount: KRW 2,640,000,000,000 (Approx. KRW 2.64T)
- States the total construction cost (Hanwha Ocean share: KRW 1.9716T, Hyundai E&C share: KRW 668.4B) as damages for non-fulfillment cannot be finalized at present
- Equity Capital: KRW 4,863,349,890,725 (Based on end-2024 consolidated financial statements)
- Ratio to Equity Capital: 54.28%
- Corrected Debt Guarantee Period: April 9, 2026 ~ June 19, 2029
- Total Debt Guarantee Balance: KRW 766,475,468,081 (Excludes this guarantee amount)
- Board Resolution Date: February 13, 2026 (Attended by 5 outside directors)
- Other Remarks:
- As a construction investor in the Sinan Oui Offshore Wind Power project, Hanwha Ocean guarantees damages to creditors if responsible completion is not fulfilled (joint liability among construction investors); obligation terminates upon completion
- Debtor’s Financial Summary (As of end-2024): Total Assets KRW 4,023M, Total Liabilities KRW 16M, Total Equity KRW 4,006M, Net Loss KRW -421M
- Subject to change during project execution
- Related Disclosure: 2026-02-13 Decision on Provision of Debt Guarantee for Others
📝 Editor’s Comment (Key Follow-up Checkpoint)
📌 Monitoring Sponsor Agreement Execution and Potential Schedule Changes in Offshore Wind Project
Checking the scheduled execution date of the sponsor agreement (April 9, 2026) alongside subsequent project progress is important because it allows investors to verify the execution status of the affiliate’s offshore wind project and track potential adjustments to guarantee terms driven by changes to the scheduled overall completion date (June 19, 2029). Investors can verify further details through subsequent correction disclosures and periodic reports (Quarterly, Half-Yearly, and Annual Reports).
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Source: This content was structured and newly generated based on official submission data from the Financial Supervisory Service DART system.
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