Fact Source: Financial Supervisory Service DART
💡 Executive Summary
Hanwha Ocean secured a contract worth KRW 768.7B (7.1% of recent annual revenue) to build one wind turbine installation vessel (WTIV) for its affiliate, Ocean Wind Power 1 Ltd.
📊 [Key Disclosure Details & Financial Summary]
1. Contract Overview
- Contract Type: Construction Order
- Contract Name: 1 Wind Turbine Installation Vessel (WTIV)
2. Financial Details & Scale
- Contract Amount: KRW 768,700,000,000 (KRW 768.7B / USD 525M equivalent)
- Applied FX Rate: USD/KRW = 1,464.10 (Base rate on 2026-02-06, rounded at 100M KRW)
- Recent Revenue: KRW 10,776,000,000,000 (KRW 10.776T, 2024 year-end consolidated basis)
- Ratio to Revenue: 7.1%
- Contracting Party & Relationship: Ocean Wind Power 1 Ltd. (Affiliate)
- Sales/Supply Region: Oceania Region
3. Contract Terms & Schedule
- Contract Period: 2026-02-06 ~ 2028-05-31
- Contract Date: 2026-02-06
- Key Terms: Down payment/advance payment included / Payment collected according to construction progress
📝 Editor’s Comment (Key Follow-up Checkpoint)
📌 Monitoring Construction Progress and Revenue Recognition of Intercompany Order
This filing discloses that Hanwha Ocean entered into a KRW 768.7B contract with its affiliate, Ocean Wind Power 1 Ltd., for the construction of one wind turbine installation vessel.
Verifying that payments are collected according to progress and that vessel construction proceeds as scheduled over the contract period (February 6, 2026 – May 31, 2028) is important for evaluating whether revenue from this order is recognized as planned.
Progress regarding construction status, order backlog, and affiliate transaction details can be tracked through future official periodic filings, such as Quarterly, Semi-Annual, and Annual Reports.
📢 Disclaimer & Source Notice
Source: This content was newly structured and generated based on official filing data from the Financial Supervisory Service DART system.
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