Fact Source: Financial Supervisory Service DART
💡 3-Second Summary
Hanwha Ocean has filed a correction disclosure updating that a sales/supply contract previously acquired from Hanwha Corporation will be re-transferred to Sinan Oui Offshore Wind Power Co., Ltd., the project execution entity, within March 2026 following a contract amendment.
📊 [Key Disclosure Details & Financial Figures]
- Key Correction Details:
- Corrected Item: Other Important Remarks for Investment Decisions
- Before: The sales/supply contract disclosed by Hanwha Corporation on Feb 19, 2024, will be transferred to Hanwha Ocean
- After: The contract was transferred to Hanwha Ocean and is scheduled to be re-transferred to the project execution entity, Sinan Oui Offshore Wind Power Co., Ltd., within March 2026
- Reason for Correction: Revisions based on a contract amendment
- Overview of Business Acquisition (Based on Board Resolution on April 3, 2024):
- Wind Power Business Acquisition: Acquisition of assets, liabilities, contracts, and permits / Total Transaction Amount: KRW 223.4B (Acquisition Price KRW 188.1B + Settlement Amount KRW 35.3B) / Scheduled Closing Date: Dec 1, 2024
- Plant Business Acquisition: Acquisition of assets, liabilities, contracts, and permits / Total Transaction Amount: KRW 208.1B (Acquisition Price KRW 214.4B – Settlement Amount KRW 6.3B) / Scheduled Closing Date: Jul 1, 2024
- Transferor: Hanwha Corporation
- Total Consolidated Assets: KRW 13,944,800,000,000 (As of end-2023)
- Other Remarks:
- Plant Construction Contract: Liquidation damages of KRW 28.0B are expected to be incurred and finalized in Feb 2026; Hanwha Corporation will pay the equivalent amount to Hanwha Ocean as compensation pursuant to the separate agreement
- Wind Power Projects (Sinan Oui Offshore & Yangyang Suri Onshore): Hanwha Ocean will jointly assume contract obligations with Hanwha Corporation by submitting a commitment letter; Hanwha Corporation agreed to compensate Hanwha Ocean for any incurred damages under the transaction closing agreement dated Nov 21, 2024
- Related Disclosures: Voluntary Disclosures on Other Management Matters filed on 2024-04-03, 2024-07-01, 2024-08-28, 2024-09-12, 2024-09-27, 2024-11-21, 2024-12-31, 2025-04-25, and 2026-02-10
📝 Editor’s Comment (Key Follow-up Checkpoint)
📌 Tracking Re-transfer of Wind Power Contract and Receipt of Compensation for Plant Liquidated Damages
Monitoring the completion of the contract re-transfer to Sinan Oui Offshore Wind Power Co., Ltd. within March 2026 and the status of Hanwha Corporation’s KRW 28.0B compensation payment for plant liquidated damages is important because it allows investors to verify the progress of post-acquisition procedures and tracking settlement progress. 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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