Source of Facts: Financial Supervisory Service DART / 2025-10-30
Disclosure Type: Execution of Single Sales/Provider Contract (Amendment)
💡 3-Second Summary
Hanwha Ocean has amended its contract with an Oceanian shipowner for one Field Control Station (FCS). Due to contract adjustments, the contract value has increased from KRW 905.2 billion to KRW 912.0 billion, while the contract end date remains unchanged as July 18, 2026.
📊 1. [Key Disclosure Content & Major Figures Summary]
- Contract Category & Contract Name: Construction Order / 1 Field Control Station (FCS)
- Initial and Prior Filing Dates:
- Initial Contract/Order Date: January 10, 2022
- Last Amendment Date: June 5, 2025 (Current Amendment Date: October 30, 2025)
- Comparison of Contract Value & Ratio (Before vs. After Amendment):
- Contract Value: (Before) KRW 905,200,000,000 ➡️ (After) KRW 912,000,000,000 (Approx. KRW 912.0B)(An increase of approximately KRW 6.8B, with the ratio to the recent annual revenue of KRW 7.0302T as of the end of fiscal 2020 adjusted from 12.9% to 13.0%)
- Contract Period (Before vs. After Amendment):
- Start Date: February 1, 2022 (Unchanged)
- End Date: July 18, 2026 (Unchanged)
- Contract Counterparty & Region: An Oceanian shipowner (No relationship with the company) / Oceanian region
- Key Contract Terms & Process Structure:
- Down payment/prepayment: None; Payment structured progressively based on construction milestones.
- The project consists of two stages: Stage 1 (Design verification and preparation for construction execution) and Stage 2 (Main construction execution).
- Reason for Amendment: Contract value adjustment.
- Multi-Currency Exchange Rate Standard: The contract is structured under a multi-currency agreement. The KRW translated values were calculated based on the reference exchange rates as of the initial contract date (January 10, 2022) posted by the Seoul Foreign Exchange Brokerage (1 USD = 1,202.40 KRW, 1 GBP = 1,633.94 KRW, 1 EUR = 1,365.69 KRW, 1 AUD = 863.02 KRW, 1 NOK = 136.11 KRW, 1 MYR = 285.67 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]
- Recording of Value Adjustments: This filing officially registers a contract price adjustment for the Field Control Station (FCS), bringing the total contract value to KRW 912.0 billion. The increase of approximately KRW 6.8 billion updates the backlog representation to 13.0% of historical annual revenue.
- Maintenance of Project Schedule: Apart from the adjustment to the contract value, the scheduled completion date remains fixed at July 18, 2026, and no structural changes to the progressive payment terms have been reported.
- Multi-Currency Baseline Parameters: The registered KRW financial entries remain calculated using the fixed multi-currency benchmarks established in January 2022. Because the transaction involves several currencies, the specific parameters remain governed by the terms specified under the original agreement, under which the final settlement figures remain subject to the stated disclosure provisions.
📝 Editor’s Comment (by K-STOCK Editor)
Hanwha Ocean’s amended regulatory filing regarding its single sales and provider contract outlines the updated parameters established for the Field Control Station (FCS) project with an Oceanian shipowner. According to the document, the schedule for the contract valued at KRW 912.0 billion remains formally established with July 18, 2026, as the contract end date.
The critical variables and primary checkpoints for investors to analyze moving forward are the ‘confirmed completion date of July 18, 2026’ and the ‘exact figures entered into the financial record’. This filing registers the adjusted financial parameters within the contract framework, while the scheduled timeline remains governed by the initial baseline terms.
Consequently, investors should analyze the situation based on the updated transaction details as of October 30, 2025, as stated in the filing. It remains essential to monitor the verified project milestones and track the completed entries listed in the document as part of the official corporate disclosure, recognizing that the contract value and schedules remain subject to the parameters specified in the text.
📢 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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