Fact Source: Financial Supervisory Service DART
💡 Executive Summary
Hanwha Ocean decided to provide a debt guarantee of KRW 2.64T (54.28% of equity) to cover potential damage compensation liabilities in the event of non-performance of responsible completion for the Sinan Oui Offshore Wind Power Project.
📊 [Key Disclosure Details & Financial Summary]
1. Debtor and Creditor Details
- Debtor: Sinan Oui Offshore Wind Power Co., Ltd. (Relationship: Affiliate)
- Creditors (Lender Group): Korea Development Bank, KB Kookmin Bank, KB Insurance, KB Life Insurance, Shinhan Bank, Hana Bank, Hana Life Insurance, Hana Insurance, Woori Bank, Tongyang Life Insurance, NH Bank, NH Property & Casualty Insurance, Busan Bank, Samsung Fire & Marine Insurance, Kyobo Life Insurance, Hyundai Marine & Fire Insurance, Lotte Insurance, Industrial Bank of Korea, etc.
2. Guarantee Details & Terms
- Debt & Guarantee Amount: KRW 2,640,000,000,000 (KRW 2.64T)
- Basis of Amount: Stated based on the total construction cost (KRW 1.9716T for Hanwha Ocean, KRW 668.4B for Hyundai Engineering & Construction Co., Ltd.) as the exact damage compensation amount for non-performance cannot be determined at present.
- Ratio to Equity: 54.28% (Equity: KRW 4,863,349,890,725 based on 2024 year-end consolidated financial statement)
- Nature of Guarantee: Joint liability for damage compensation to creditors if responsible completion is not performed as a construction investor (Obligation terminates upon successful completion)
- Guarantee Period: 2026-03-31 ~ 2029-05-30
- Start Date: Scheduled execution date of equity investor agreement (Re-disclosure planned upon execution)
- End Date: Scheduled completion date of the project
- Total Outstanding Guarantee Balance (Excluding this transaction): KRW 766,475,468,081
- Board Resolution Date: 2026-02-13 (5 independent directors attended)
3. Debtor Financial Summary (2024 Year-End)
- Total Assets: KRW 4,023,000,000
- Total Liabilities: KRW 16,000,000
- Total Equity: KRW 4,006,000,000
- Capital Stock: KRW 4,627,000,000
- Revenue: –
- Net Loss: KRW -421,000,000
4. Project Financing (PF) Details for Construction Business
- PF Type & Amount: Other PF Loan / KRW 2,890,000,000,000 (KRW 2.89T)
📝 Editor’s Comment (Key Follow-up Checkpoint)
📌 Monitoring Equity Investor Agreement Execution
This filing reports Hanwha Ocean’s decision to provide a guarantee corresponding to potential damage compensation liabilities associated with responsible completion terms as a construction investor in an offshore wind power project.
Verifying whether the equity investor agreement is executed as scheduled around the start date is important for evaluating whether the terms of the guarantee and responsible completion obligations have been finalized.
Progress regarding agreement signing and guarantee details can be tracked through future re-disclosures upon agreement execution, as well as official periodic filings such as Quarterly, Semi-Annual, and Annual Reports.
📢 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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