Fact Source: Financial Supervisory Service DART
💡 3-Second Summary
This filing is a corrected disclosure by Hanwha Ocean extending the contract completion date (from May 15, 2025 to August 30, 2025) upon fulfillment of conditions for the Fixed Platform construction contract worth approximately KRW 828.3B with a Middle Eastern client.
📊 Key Filing Details & Key Figures Summary
1. Correction Details & Reason
- Original Disclosure: Sales and Supply Contract (Originally Filed: February 27, 2023)
- Reason for Correction: Change in contract completion date
- Corrected Item: Extension of contract end date from May 15, 2025 to August 30, 2025, upon fulfillment of specified conditions
2. Key Contract Details
- Contract Type: Construction Contract
- Contract Title: 1 Fixed Platform
- Contract Amount: KRW 828,300,000,000 (Approx. USD 722.52M)
- Recent Revenue: KRW 7,030,200,000,000 (Based on consolidated financial statements as of year-end 2020)
- Ratio to Recent Revenue: 11.8%
- Large Corporation Status: Applicable
3. Counterparty & Terms
- Counterparty: Middle Eastern Client (Relationship: None)
- Sales/Supply Region: Middle East
- Contract Period: June 1, 2021 ~ August 30, 2025
- Key Terms: Down payment/Advance payment included; Payments collected according to construction progress
- Contract Date: July 13, 2021 (Effective retroactively from June 1, 2021)
4. Other Key Reference Information
- Applicable Foreign Exchange Rate: KRW/USD = 1,146.40 (Base rate as of July 13, 2021)
- Contract amount and recent revenue figures are rounded at the 100-million KRW level
- Contract period and final settlement amount are subject to change during construction
- Related Disclosures: Filings dated July 14, 2021, October 31, 2022, November 3, 2022, and February 27, 2023
📝 Editor’s Comment (Key Follow-up Checkpoint)
📌 Monitoring Finalized Completion Date and Offshore Platform Delivery Progress
This corrected disclosure reflects the finalization of the contract completion date as August 30, 2025, following the fulfillment of conditions for the Fixed Platform contracted in July 2021. Tracking the revised completion timeline and final settlement adjustments is important for verifying the formal completion of the project. Relevant execution updates can be reviewed in upcoming Quarterly Reports, Half-Year Reports, Annual Reports, or subsequent disclosures.
📢 Disclaimer & Source Information
Source: This content was structured and newly written based on officially submitted data from the Financial Supervisory Service’s Data Analysis, Retrieval and Transfer System (DART).
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