Fact Source: Financial Supervisory Service DART / KOSCOM
💡 3-Second Summary
This filing discloses Hanwha Ocean’s contract win valued at KRW 264.8B for an offshore product performance improvement project with its affiliate, Tidal Action LLC.
📊 [Key Disclosure Highlights & Summary]
- Filing Type: Sales and Supply Contract
- Contract Classification: Construction Contract
- Contract Title: Offshore Product Performance Improvement Project
- Contract Amount: KRW 264,800,000,000 (Applied exchange rate of USD 1 = KRW 1,375.90 as of April 29, 2024; rounded to the nearest hundred million KRW)
- Recent Annual Revenue: KRW 7,408,300,000,000 (Based on FY2023 consolidated financial statements; rounded to the nearest hundred million KRW)
- Contract-to-Revenue Ratio: 3.6%
- Counterparty: Tidal Action LLC (Relationship: Affiliate)
- Supply Region: Americas
- Contract Period: April 29, 2024 – March 31, 2025
- Order Date: April 29, 2024
- Disclosure Deferral Details: None
- Other Material Notes: Contract period and final settlement amount are subject to change during construction.
📝 Editor’s Comment (Key Follow-up Checkpoint)
📌 Verification of Project Progress and Intercompany Contract Term Amendments
This filing details a performance improvement contract for offshore products with an affiliated entity, Tidal Action LLC, making it essential to monitor project execution over the contract period (April 29, 2024 – March 31, 2025) and check for any subsequent disclosures regarding contract schedule or settlement adjustments. Verifying these developments is necessary because it serves as the benchmark to evaluate the smooth fulfillment and final settlement confirmation of related-party transactions. Relevant progress updates can be confirmed through future regular financial reports (Quarterly, Semi-Annual, or Annual Business Reports) or subsequent official public disclosures.
📢 Disclaimer & Source Notice
Source: This content was newly structured based on official data submitted to the Financial Supervisory Service’s DART system and KOSCOM.
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