Source Facts: Financial Supervisory Service Electronic Disclosure System (DART) / 2026-03-09
Disclosure Type: Decision on Disposal of Shares or Investment Certificates of Other Corporations (Major Management Matters of a Subsidiary)
💡 3-Second Summary
This disclosure outlines that Hanwha Aerospace’s major subsidiary, Hanwha Systems, has decided to dispose of its shares in affiliate Hanwha Ocean worth approximately KRW 1.7T to secure liquidity and strategic investment funds, with plans to execute a Price Return Swap (PRS) contract regarding the transaction.
📊 1. [Summary of Core Disclosure Content and Major Figures]
- Entity Involved: Hanwha Systems Co., Ltd. (Classified as a major subsidiary of Hanwha Aerospace; Representative: Jae-il Son; Total Assets: KRW 5,724,010,115,718, representing 13.21% of the controlling company’s consolidated total assets)
- Issuing Company (Target Entity): Hanwha Ocean Co., Ltd. (Affiliate; Core Business: Manufacture of ships and floating structures; Representative: Hee-chul Kim)
- Disposal Details (Estimated based on the closing price of the day prior to Hanwha Systems’ board resolution):
- Number of Shares to Dispose: 13,923,011 shares
- Disposal Amount: KRW 1,699,999,643,100 (Approx. KRW 1.7T)
- Disposal Ratio to Total Assets: 29.70% of Hanwha Systems’ total assets
- Shareholding Status Post-Disposal: 21,527,899 shares / Ownership ratio of 7.03%
- Purpose of Disposal: Securing liquidity and strategic investment resources
- Key Timelines: Board Resolution Date: March 6, 2026 / Expected Disposal Date (Based on transaction date): April 6, 2026
- Details of Proposed Price Return Swap (PRS) Contract:
- Underlying Asset: Common stock of Hanwha Ocean Co., Ltd. (13,923,011 shares)
- Base Price: KRW 122,100 (Closing price as of March 5, 2026)
- Settlement Method: Upon the buyer’s sale of the shares, the difference between the selling base amount and the settlement base amount will be settled.
- Contract Period: 1 year
- Provisions for Revision and Amendment:
- The currently stated disposal volume, amount, post-transaction ownership parameters, and PRS conditions are preliminary calculations based on the closing price prior to the board meeting. These figures will be modified using the closing price of the trading day immediately preceding the expected disposal date (April 6, 2026) as the baseline. An amended disclosure will be filed once the final contract details are confirmed.
- Summary Financial Data of the Target Entity (Hanwha Ocean, 2024 Consolidated, Unit: KRW Million):
- Total Assets 17,843,809 / Total Liabilities 12,980,459 / Total Equity 4,863,350 / Capital Stock 1,537,067 / Sales 10,776,005 / Net Income 528,213
📈 2. [Expert View: What This Disclosure Means for Investors]
This regulatory filing documents an asset disposal framework and derivative contract scheduling by Hanwha Systems, a major subsidiary representing 13.21% of Hanwha Aerospace’s consolidated total asset base. The transaction parameters specify that Hanwha Systems aims to raise approximately KRW 1.7T by selling a portion of its equity stake in its affiliate, Hanwha Ocean, with the designated underlying goal of utilizing these proceeds to bolster corporate liquidity and establish funding for strategic investments.
For investors, the accompanying Price Return Swap (PRS) contract framework tied directly to this equity transfer requires detailed observation. The text dictates that Hanwha Systems will establish a 1-year swap agreement referencing 13,923,011 common shares of Hanwha Ocean, with the operational benchmark price fixed at the March 5, 2026 closing price of KRW 122,100. This structural arrangement mandates that any variance between the eventual selling base price and the settlement base price will be net-settled at the point when the buyer executes a subsequent market sale. Furthermore, as explicitly qualified in the text, the designated number of shares, financial volumes, and resulting ownership percentages are tentative parameters derived from historical stock data. Because these fields will be dynamically adjusted using the final closing price recorded immediately prior to the transaction date (April 6, 2026), investors may need to remain aware of subsequent amendments that will finalize the precise financial parameters of the deal.
📝 Editor’s Comment (by K-STOCK Editor)
This announcement presents the preliminary operational design regarding Hanwha Systems’ scheduled equity disposal of Hanwha Ocean and the structural parameters of the corresponding Price Return Swap (PRS) contract. The key variables that investors must monitor going forward are the ‘final verification of contract data using the closing price of the business day prior to the disposal date’ and the ‘subsequent submission of the amended regulatory filing’ as explicitly outlined in the text.
As specified in the source text, the current metrics allocating 13,923,011 shares for disposal, the KRW 1.7T financial volume, the 7.03% post-transaction ownership floor, and the baseline swap terms are temporary calculations tethered to the pre-board meeting market price. The source text explicitly indicates that these variables will be re-evaluated and revised based entirely on the market closing price recorded on the business day immediately preceding April 6, 2026. Consequently, investors should focus on tracking the definitive base price established on the transaction eve and confirming the finalized share volumes and values via the subsequent official amendment disclosure.
📢 Disclaimer and Source Information
Source: This content has been structured and newly written based on the official data submitted to the Financial Supervisory Service Electronic Disclosure System (DART).
Investment Risk Notice: This content 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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