Fact Source: Financial Supervisory Service DART
💡 3-Second Summary
Hanwha Ocean updated its offshore product performance improvement contract with affiliate Tidal Action LLC, increasing the contract value from KRW 264.8B to KRW 293.2B.
📊 [Key Disclosure Details & Summary of Key Figures]
- Disclosure Type: Signing of Single Sales/Supply Contract (Correction Report)
- Original Disclosure Date: April 30, 2024
- Reason for Correction: Change in Contract Amount
- Contract Name: Offshore Product Performance Improvement Project
- Contract Amount: KRW 293.2B (KRW 293,200,000,000) / Prior: KRW 264.8B (KRW 264,800,000,000) [Increased by KRW 28.4B]
- Ratio to Recent Sales: 4.0% / Prior: 3.6% (Based on 2023 consolidated sales of KRW 7.4083T)
- Contracting Party: Tidal Action LLC (Relationship: Affiliate)
- Sales/Supply Region: Americas
- Contract Period: April 29, 2024 ~ March 31, 2025
- Contract Date: April 29, 2024
- Key Contract Terms: Down payment / Advance payment included; 1st interim payment (20%), Balance (80%)
- Other Key Details: The contract value was calculated using the base exchange rate of 1,375.90 KRW/USD as of April 29, 2024. The contract period and final settlement amount are subject to change during the construction process.
📝 Editor’s Comment (Key Follow-up Checkpoint)
📌 Verifying Final Settlement Amount and Schedule Compliance
This correction filing serves as official notice of an upward revision in the contract value for an existing offshore product performance improvement project. With the scheduled completion date approaching on March 31, 2025, tracking whether the project is completed as planned and how final settlement figures impact financial results is important to understanding the financial implications of this transaction. Related updates on revenue recognition and payment collection can be verified in upcoming Annual, Quarterly, and Half-Year Reports.
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Source: This content was newly structured and generated based on official filings submitted to the Financial Supervisory Service’s DART system.
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