Fact Source: Financial Supervisory Service DART
💡 Executive Summary
Hanwha Ocean disclosed that liquidated damages of KRW 28.0B regarding the transferred plant business contract will be finalized in February 2026, and Hanwha Corporation is expected to compensate Hanwha Ocean for the corresponding KRW 28.0B under a prior agreement.
📊 [Key Disclosure Details & Financial Summary]
1. Correction Disclosure Overview
- Target Disclosure: Other Major Management Matters (Voluntary Disclosure) (Initial Filing Date: 2024-04-03, Previous Filing Date: 2025-04-25)
- Reason for Correction: Finalization of liquidated damages related to the plant business transfer
- Corrected Details:
- (Before) Occurrence and amount of liquidated damages undetermined as of filing date
- (After) Liquidated damages of KRW 28,000,000,000 (KRW 28.0B) to be finalized via an agreement with the contract counterparty in February 2026. Hanwha Corporation is expected to pay KRW 28.0B as compensation to Hanwha Ocean per the July 2024 agreement.
2. Business Transfer Overview (As of Board Resolution on 2024-04-03)
- Purpose: Strengthening competitiveness through acquiring wind power and plant businesses
- Wind Power Business Transfer:
- Transfer Price: KRW 188,100,000,000 (Total transaction amount KRW 223,400,000,000 including KRW 35,300,000,000 settlement payment)
- Ratio to Consolidated Assets: 1.6% (2023 year-end total assets: KRW 13,944,800,000,000)
- Transferor / Scheduled Transfer Date: Hanwha Corporation / 2024-12-01
- Plant Business Transfer:
- Transfer Price: KRW 214,400,000,000 (Total transaction amount KRW 208,100,000,000 including KRW 6,300,000,000 settlement received)
- Ratio to Consolidated Assets: 1.5%
- Transferor / Scheduled Transfer Date: Hanwha Corporation / 2024-07-01
3. Other Matters Material to Investment Decisions
- Plant EPC Contract Liquidated Damages: Agreement signed on 2024-07-01 stating that if Hanwha Ocean pays liquidated damages to the contract counterparty, Hanwha Corporation shall reimburse the amount as damages (capped at 10% of total contract value).
- Wind Power Business: Commitment letters and transaction closing agreement (signed 2024-11-21) regarding Sinan Oui Offshore Wind and Yangyang Suri Onshore Wind projects (settlement/compensation amounts currently undetermined).
📝 Editor’s Comment (Key Follow-up Checkpoint)
📌 Monitoring Finalization of Plant Liquidated Damages and Expected Reimbursement
This disclosure notifies the market that liquidated damages of KRW 28.0B under a plant construction contract acquired from Hanwha Corporation are scheduled to be finalized in February 2026, and that Hanwha Corporation is expected to pay the corresponding KRW 28.0B as compensation to Hanwha Ocean.
Verifying whether the liquidated damages agreement is finalized as planned and whether the compensation from Hanwha Corporation is executed is important for evaluating the follow-up progress of the business transfer.
The execution of the agreement and compensation details can be tracked through future periodic filings, such as Quarterly, Semi-Annual, and Annual Reports, or subsequent disclosures.
📢 Disclaimer & Source Notice
Source: This content was newly structured and generated based on official filing data from the Financial Supervisory Service DART system.
Investment Risk Warning: 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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