Source of Facts: Financial Supervisory Service DART / 2026-03-27
Disclosure Type: Decision on Providing Collateral for Others (Amendment)
💡 3-Second Summary
Hanwha Ocean has amended its collateral agreement to provide a pledge on its shares of Shinan Wooi Offshore Wind Co., Ltd. for the affiliate’s PF loan procurement, shifting the collateral start date to April 9, 2026, and the end date to December 15, 2048, provided that all contents remain subject to change during the project progress.
📊 1. [Key Disclosure Content & Major Figures Summary]
- Reason for Amendment: Amendment of the collateral period and correction of text under other investment considerations.
- Amended Items:
- Collateral Period Start Date: Modified from (Before) March 31, 2026 ➡️ (After) April 9, 2026
- Collateral Period End Date: Modified from (Before) December 31, 2048 ➡️ (After) December 15, 2048
- Other Investment Considerations: Prior wording stating “will re-disclose upon execution of the contract” was deleted.
- Debtor: Shinan Wooi Offshore Wind Co., Ltd. (Relationship with the company: Affiliate)
- Creditors: Korea Development Bank, Kookmin Bank, KB Insurance, KB Life Insurance, Shinhan Bank, Hana Bank, Hana Life, Hana Insurance, Woori Bank, Tongyang Life Insurance, Nonghyup Bank, Nonghyup Property & Casualty Insurance, Busan Bank, Samsung Fire & Marine Insurance, Kyobo Life Insurance, Hyundai Marine & Fire Insurance, Lotte Insurance, Industrial Bank of Korea, etc.
- Debt (Borrowing) Amount: KRW 2,890,000,000,000 (Approx. KRW 2.89T)
- Collateral Value: KRW 134,300,000,000 (Approx. KRW 134.3B)
- This represents 2.76% of the company’s equity capital (KRW 4,863,349,890,725 based on the 2024 consolidated financial statements).
- Collateralized Property: 134,300,000 shares of Shinan Wooi Offshore Wind Co., Ltd. (Calculated based on par value).
- Total Outstanding Collateral Balance: KRW 390,000,000,000 (KRW 390B, excluding the current collateral value of KRW 134.3B).
- Board of Directors Resolution Date: February 13, 2026 (5 outside directors present, 0 absent).
- Debtor’s Summary Financial Status (As of end of 2024): Total Assets KRW 4,023M, Total Liabilities KRW 16M, Total Equity KRW 4,006M, Share Capital KRW 4,627M, Revenue KRW -, Net Income KRW -421M.
- Project Variability Clause: The aforementioned contents are subject to change during the course of the project execution process.
📈 2. [Expert View: What This Disclosure Means for Investors]
- Administrative Schedule Revisions: This filing officially registers adjustments in the scheduling parameters for the collateral agreement originally resolved on February 13, 2026. The start date has been deferred to April 9, 2026, while the end date has been moved forward to December 15, 2048, updating the overall schedule in the amended filing.
- Deletion of Re-disclosure Obligation: The administrative clause under other investment considerations indicating that the company “will re-disclose upon execution of the contract” has been officially deleted through this filing, representing a routine cleanup of disclosure wording.
- Maintenance of Collateral Scope and Metrics: Other than the timeline adjustments, core financial metrics remain unchanged, including the debt amount of KRW 2.89T and the collateral value of KRW 134.3B (2.76% of equity). This transaction entails providing a pledge on the company’s equity stake in Shinan Wooi Offshore Wind to secure financing for the offshore wind project.
📝 Editor’s Comment (by K-STOCK Editor)
Hanwha Ocean’s amended filing regarding its collateral provision officially reports scheduling adjustments in its share pledge agreement to support the project financing (PF) requirements of its affiliate, Shinan Wooi Offshore Wind. According to the document, the formal start and end dates of the collateral period have been revised to April 9, 2026, and December 15, 2048, respectively.
The critical variables and primary checkpoints for investors to watch moving forward are the ‘scheduled contract execution date (start date)’ and the explicit condition that ‘the parameters remain subject to change during project execution.’ This amendment represents an administrative rescheduling without any material change to the collateral value of KRW 134.3 billion, and the actual implementation timeline remains linked to the affiliate’s progress in finalizing its PF loan agreements.
Consequently, investors should avoid drawing conclusions regarding direct or fixed financial performance based on the mere administrative rescheduling of collateral parameters or the deletion of the re-disclosure clause. It remains essential to monitor the project under the explicit conditions stated in the filing, which indicate that the finalized timelines and scheduling parameters remain subject to future adjustments as the underlying project develops.
📢 Disclaimer & Source Information
Source: This content was newly structured and written based on the official data submitted to the Financial Supervisory Service’s Electronic Disclosure System (DART).
Investment Risk Advisory: This information is provided for informational and linguistic reference purposes only. 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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