Fact Source: Financial Supervisory Service DART
💡 3-Second Summary
Hanwha Ocean has filed a correction disclosure regarding the collateral period (Start Date: April 9, 2026; End Date: December 15, 2048) for the pledge of shares in affiliate Sinan Oui Offshore Wind Power Co., Ltd. related to its Project Financing (PF) loan.
📊 [Key Disclosure Details & Financial Figures]
- Key Correction Details:
- Collateral Period Start Date: March 31, 2026 ➔ Corrected to April 9, 2026 (Scheduled execution date of the share pledge agreement)
- Collateral Period End Date: December 31, 2048 ➔ Corrected to December 15, 2048 (Scheduled repayment date of PF principal and interest)
- Text Revision in Other Remarks: Removed the sentence stating “a re-disclosure will be made upon contract execution” regarding the start date
- Reason for Correction: Correction of collateral period
- Overview of Provision of Collateral for Others:
- Debtor: Sinan Oui Offshore Wind Power Co., Ltd. (Affiliate)
- Creditors: Korea Development Bank, Kookmin Bank, Shinhan Bank, Hana Bank, Woori Bank, NongHyup Bank, Industrial Bank of Korea, and other lenders
- Debt (Borrowing) Amount: KRW 2,890,000,000,000 (Approx. KRW 2.89T)
- Collateral Amount: KRW 134,300,000,000 (Approx. KRW 134.3B, based on par value)
- Equity Capital: KRW 4,863,349,890,725 (Based on end-2024 consolidated financial statements)
- Ratio to Equity Capital: 2.76%
- Collateralized Assets: 134,300,000 shares of Sinan Oui Offshore Wind Power Co., Ltd.
- Corrected Collateral Period: April 9, 2026 ~ December 15, 2048
- Total Collateral Balance: KRW 390,000,000,000 (Excludes this collateral amount; related to Yangyang Suri Wind Power Co., Ltd.)
- Board Resolution Date: February 13, 2026 (Attended by 5 outside directors)
- Other Remarks:
- Involves providing a pledge on shares invested by Hanwha Ocean in Sinan Oui Offshore Wind Power Co., Ltd. to creditors regarding a PF loan agreement for the Sinan Oui Offshore Wind Power project
- Debtor’s Financial Summary (As of end-2024): Total Assets KRW 4,023M, Total Liabilities KRW 16M, Total Equity KRW 4,006M, Net Loss KRW -421M
- Subject to change during project execution
- Related Disclosure: 2026-02-13 Decision on Provision of Collateral for Others
📝 Editor’s Comment (Key Follow-up Checkpoint)
📌 Monitoring Share Pledge Agreement Execution and Potential Schedule Changes in PF Loan
Checking the scheduled execution date of the share pledge agreement (April 9, 2026) alongside subsequent project progress is important because it allows investors to verify the execution status of the affiliate’s offshore wind project financing loan and track potential adjustments to the collateral terms. Investors can verify further details through subsequent correction disclosures and periodic reports (Quarterly, Half-Yearly, and Annual Reports).
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Source: This content was structured and newly generated based on official submission data from the Financial Supervisory Service DART system.
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