Fact Source: Financial Supervisory Service DART
💡 3-Second Summary
This filing is a corrected disclosure by Hanwha Ocean extending the contract completion date (from March 31, 2025 to June 30, 2025) for the offshore equipment performance upgrade project worth approximately KRW 293.2B with its affiliate, Tidal Action LLC.
📊 Key Filing Details & Key Figures Summary
1. Correction Details & Reason
- Original Disclosure: Sales and Supply Contract (Originally Filed: February 27, 2025)
- Reason for Correction: Change in contract completion date
- Corrected Item: Extension of contract end date from March 31, 2025 to June 30, 2025
2. Key Contract Details
- Contract Type: Construction Contract
- Contract Title: Offshore Equipment Performance Upgrade Project
- Contract Amount: KRW 293,200,000,000 (Approx. USD 213.10M)
- Recent Revenue: KRW 7,408,300,000,000 (Based on consolidated financial statements as of year-end 2023)
- Ratio to Recent Revenue: 4.0%
- Large Corporation Status: Applicable
3. Counterparty & Terms
- Counterparty: Tidal Action LLC (Relationship: Affiliate)
- Sales/Supply Region: Americas
- Contract Period: April 29, 2024 ~ June 30, 2025
- Key Terms: Down payment/Advance payment included; Payment terms: 1st interim payment (20%), remaining balance (80%)
- Contract Date: April 29, 2024
4. Other Key Reference Information
- Applicable Foreign Exchange Rate: KRW/USD = 1,375.90 (Base rate as of April 29, 2024)
- 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 April 30, 2024, and February 27, 2025
📝 Editor’s Comment (Key Follow-up Checkpoint)
📌 Monitoring Extended Completion Date and Payment Collection Progress
This corrected disclosure reports an extension of the contract completion date from March 31, 2025 to June 30, 2025, for the offshore performance upgrade project contracted with affiliate Tidal Action LLC. Tracking the revised schedule and verifying the timely collection of interim and remaining balance payments according to the contract terms is important for confirming the final 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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