Source of Facts: Financial Supervisory Service DART / 2026-02-06
Disclosure Type: Execution of Single Sales/Provider Contract
💡 3-Second Summary
Hanwha Ocean has executed a construction contract valued at approximately KRW 768.7 billion (representing 7.1% of its recent annual revenue) with its affiliate, Ocean Wind Power 1 Ltd., to build one Wind Turbine Installation Vessel (WTIV), with the contract period scheduled from February 6, 2026, to May 31, 2028.
📊 1. [Key Disclosure Content & Major Figures Summary]
- Contract Category & Contract Name: Construction Order / 1 Wind Turbine Installation Vessel
- Contract Details & Scale:
- Contract Value: KRW 768,700,000,000 (Approx. KRW 768.7B)
- Recent Annual Revenue: KRW 10,776,000,000,000 (Approx. KRW 10.78T, based on the consolidated financial statements as of the end of fiscal 2024).
- Ratio to Sales: 7.1% (Categorized under Large Corporation thresholds).
- Contract Counterparty & Region: Ocean Wind Power 1 Ltd. (Relationship: Affiliate) / Oceanian region
- Contract Period: February 6, 2026 ~ May 31, 2028 (Contract/Order Date: February 6, 2026)
- Key Contract Terms: Down payment/prepayment included; Payment structured progressively based on construction milestones.
- Exchange Rate Standard: The contract value was calculated by applying the trading standard exchange rate of 1 USD = 1,464.10 KRW as of the contract date (February 6, 2026) to translate the currency value into KRW, rounded to the nearest one hundred million won.
- Project Variability Clause: The contract period and final settlement amount remain subject to subsequent changes during the construction progress.
📈 2. [Expert View: What This Disclosure Means for Investors]
- Official Registration of Large-Scale Order Inflow from Internal Affiliate: This filing officially registers a procurement contract established with the company’s internal affiliate, Ocean Wind Power 1 Ltd., totaling KRW 768.7 billion. Quantitative order backlog parameters representing 7.1% of recent consolidated revenue have been formally entered into the corporate record.
- Stated Calculation Metrics: The recorded KRW value is calculated based on the exchange rate of 1,464.10 KRW/USD as of February 6, 2026, as specified in the footnotes of the filing. The transaction parameters track the formal establishment of the vessel construction contract.
- Milestone Sourcing and Progress Adaptation: The payment terms require initial prepayments followed by progressive distributions linked to construction milestones. The duration parameter extending to May 31, 2028, remains flexible, as the filing explicitly notes that both the timeline and the final settlement figures are subject to change based on actual building progress.
📝 Editor’s Comment (by K-STOCK Editor)
Hanwha Ocean’s regulatory filing regarding its single sales and provider contract outlines the administrative parameters established to record its new construction agreement with its affiliate, Ocean Wind Power 1 Ltd., for one Wind Turbine Installation Vessel (WTIV). According to the document, the confirmed contract valuation stands at approximately KRW 768.7 billion, registering a quantitative backlog milestone equivalent to 7.1% of the company’s fiscal 2024 consolidated revenue.
The critical variables and primary checkpoints for investors to analyze moving forward are the ‘actual construction progress rate achieved through May 31, 2028’ and the explicit disclosure parameter stating that ‘the contract period and final settlement amount are subject to change.’ This contract relies on progressive billing linked to physical production milestones over a multi-year timeframe, moving toward the scheduled completion date.
Consequently, investors should avoid drawing definitive conclusions regarding fixed financial metrics or final production schedules based solely on the signing of this specialized vessel contract or its nominal valuation. It remains essential to monitor the transactions under the explicit conditions stated in the filing, tracking how the physical construction of the vessel is systematically implemented under the approved KRW 768.7 billion framework, under which all final values and schedules remain subject to change during the construction progress.
📢 Disclaimer & Source Information
Source: This content was newly structured and written based on the official data submitted to the Financial Supervisory Service’s Electronic Disclosure System (DART).
Investment Risk Advisory: This information is provided for informational and linguistic reference purposes only. Under no circumstances does it constitute financial advice or a recommendation to buy or sell specific stocks. All investment decisions and financial responsibilities rest entirely with the investor.
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