Source Fact: Financial Supervisory Service DART / 2025-03-20
Disclosure Type: Decision on Debt Guarantee for Others
💡 3-Second Summary
Hanwha Ocean has amended its previous disclosure regarding a debt guarantee of approximately KRW 700 billion provided as a construction completion commitment for Tongyeong Eco Power, defining the end date as March 20, 2025, upon receipt of the official acceptance notice.
📊 1. [Summary of Key Disclosure Content and Major Figures]
- Target Document for Amendment: Decision on Debt Guarantee for Others submitted on January 24, 2025
- Reason for Amendment: Amendment of the debt guarantee period end date
- Debtor: Tongyeong Eco Power Co., Ltd. (No specified relationship with the company)
- Creditors: Mirae Asset Life Insurance, Korean Federation of Community Credit Cooperatives, NH Property & Casualty Insurance, Fubon Hyundai Life Insurance, Kyobo Life Insurance, Woori Bank, Hana Bank, and Tongyeong Ilcha LLC
- Debt Guarantee Amount & PF Type: KRW 700,000,000,000 (KRW 700.0B) / Other PF Loan (Set with the loan agreement amount as the maximum limit)
- Proportion to Equity Capital: 16.2% relative to equity capital (Based on the consolidated financial statements at the end of 2023: KRW 4,312,157,120,697)
- Amendment (Change in Debt Guarantee Period End Date):
- End Date: (Before) 2025-06-30 → (After) 2025-03-20
- Defined Guarantee Period: Start Date (Execution date of completion commitment) January 24, 2025 ~ End Date (Receipt date of official acceptance notice) March 20, 2025
- Purpose and Nature of Guarantee: A project included in the acquisition of the plant business from Hanwha Corporation as of July 1, 2024. The commitment was submitted under Hanwha Ocean’s name to finalize the acquisition. The compensation obligation expires upon fulfillment of the completion commitment (Pre-use inspection under the Electric Utility Act was completed on October 2, 2024).
- Total Debt Guarantee Balance Excluding This Filing: KRW 661,680,715,137
- Summary Financial Status of Debtor (Current year, Separate basis): Total Assets: KRW 1,076,949M, Total Liabilities: KRW 814,172M, Total Equity: KRW 262,776M, Capital Stock: KRW 273,000M, Revenue: KRW 0, Net Income: -KRW 5,463M
📈 2. [Expert View: What This Disclosure Means for Investors]
This disclosure represents an official amendment specifying that the end date for the construction completion commitment provided for the “Tongyeong Natural Gas Power Plant Construction Project” has been updated to a finalized date. The modification adjusts the previous end date (June 30, 2025), which had been recorded conservatively because the exact completion timing could not be specified, to March 20, 2025, which marks the receipt date of the official acceptance notice.
The stated debt guarantee amount stands at KRW 700.0B, representing a fixed 16.2% relative to the consolidated total equity as of the end of 2023. However, the text highlights that the underlying obligation—the pre-use inspection for the construction completion—was already finalized on October 2, 2024. The official disclosure does not state how this finalization of the guarantee period will impact Hanwha Ocean’s detailed subsequent financial statements, credit ratings, or future stock price trends. Therefore, instead of assuming risk reduction using external assumptions, investors should interpret this disclosure focusing strictly on the fact that the guarantee end date has been updated to March 20, 2025, following the receipt of the official document.
📝 Editor’s Comment (by K-STOCK Editor)
Hanwha Ocean’s recent amendment centers on finalizing the end date of the KRW 700.0B project completion debt guarantee regarding Tongyeong Eco Power to March 20, 2025, following the receipt of the official acceptance notice. For the project transferred during the plant business acquisition from Hanwha Corporation, the core fact remains that the guarantee period has been formally concluded under the revised date.
The primary variable and checkpoint that investors need to keep in mind moving forward are potential adjustments to the disclosed terms. As outlined in the notes within the text, the specified contents remain subject to change during the subsequent business processes. Since specific alternative timeline changes for other outstanding balances or quantitative financial targets are not specified in the original text, over-optimism derived from external assumptions should be avoided, and investors should rely strictly on official disclosure updates regarding this filing as their primary checkpoint.
📢 Disclaimer & Source Information
Source: This content was newly structured and written based on official data submitted to the Financial Supervisory Service electronic disclosure system (DART).
Investment Risk Notice: This information is provided solely for informational and linguistic reference purposes. 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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