Source Facts: Financial Supervisory Service Electronic Disclosure System (DART) / 2026-06-30
Disclosure Type: Single Sales / Supply Contract
💡 3-Second Summary
Hanwha Aerospace has amended the contract end date for its KF-X development engine supply contract with Korea Aerospace Industries (KAI) due to an ongoing cost settlement process, with the final contract value and completion date to be confirmed after the settlement agreement is signed.
📊 1. [Summary of Key Disclosure Content and Major Figures]
- Contract Category & Name: Supply Contract / KF-X System Development Engine
- Contract Amount: KRW 241,020,571,000 (Value excludes Value Added Tax)
- Proportion to Recent Sales: 9.2% (Compared to consolidated annual sales of KRW 2,613,405,506,139 at the end of 2015)
- Counterparty: Korea Aerospace Industries (KAI)
- Contract Period (Amended): Start Date 2016-06-24 ~ End Date TBD (Previous End Date: 2026-06-30)
- Initial Contract & Disclosure Date: 2016-06-24 (Initial disclosure filed on 2016-06-27)
- Reason for Amendment: Alteration of contract completion schedule due to cost settlement (Final contract value and end date will be finalized after signing the settlement contract)
- Other Investment Considerations:
- This project is a technology cooperation production project to localize the engine during the Korean Fighter (KF-X) development program, which replaces the Republic of Korea Air Force’s aging fighter jets (F-4, F-5).
- The system development company for this project is Korea Aerospace Industries, and Hanwha Aerospace is the engine localization company.
- The down payment and advance payment status is listed as ‘Available’.
📈 2. [Expert View: Significance of This Disclosure for Investors]
This regulatory filing represents an administrative amendment indicating that the execution timeline for the KF-X system development engine supply contract, which Hanwha Aerospace has been fulfilling since 2016, has shifted as it enters the formal cost settlement phase. The previous end date of June 30, 2026, has been updated to an unspecified field (-); however, the official text makes it clear that this modification reflects a scheduling adjustment for concluding the final settlement contract rather than a termination or impairment of the underlying agreement.
The official text strictly addresses the adjustment of the timeline parameters caused by the cost settlement process. It does not provide quantitative data or qualitative analysis regarding immediate adjustments to quarterly earnings lines, potential cost revisions, or variations in revenue recognition schedules. Consequently, investors should focus entirely on the stated schedule adjustments and the eventual finalized outcomes rather than speculating on immediate financial advantages or disadvantages.
📝 Editor’s Comment (by K-STOCK Editor)
Hanwha Aerospace’s recent disclosure transparently delineates a shift in its reporting timeline, driven by routine cost settlement procedures that typically occur at the closing stages of long-term national defense system development programs. The current contract value of approximately KRW 241B remains unchanged for now, and finalized figures will be officially integrated once the updated settlement agreement takes effect.
The primary checkpoint for long-term monitoring is tracking the subsequent official filings regarding the finalized contract amount and revised completion date once the settlement contract is officially signed. Since the management explicitly stated that updates will be re-disclosed as the process advances, verifying the precise changes in the final settlement filing upon conclusion of the negotiations with KAI will serve as the objective standard for verification.
📢 Disclaimer & Source Information
Source: This content has been structured and newly written based on official data submitted to the Financial Supervisory Service Electronic Disclosure System (DART).
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