Fact Source: Financial Supervisory Service DART / 2025-03-25
Disclosure Type: Amendment to Sales / Supply Contract
💡 Summary in 3 Seconds
Hanwha Systems has amended its supply contract with the ROK Navy Logistics Command for domestic surface ship combat system maintenance, increasing the contract value from KRW 90.4B to KRW 125.0B and extending the completion date to March 31, 2026.
📊 1. [Key Disclosure Details & Financial Highlights]
- Original Filing Date: June 2, 2022
- Amendment Date: March 25, 2025
- Reason for Amendment: Changes in contract value and contract period
- Contract Title: Outsourced maintenance of domestic surface ship combat systems
- Contract Amount Revision:
- Before: KRW 90,410,000,000 (approx. KRW 90.4B)
- After: KRW 125,017,460,000 (approx. KRW 125.0B, +KRW 34.6B increase)
- Relative Size to Revenue Revision:
- Before: 4.33%
- After: 5.98% (Based on 2021 consolidated annual revenue of KRW 2.09T)
- Counterparty: ROK Navy Logistics Command
- Contract Period Revision:
- Start Date: June 1, 2022 (Unchanged)
- End Date (Before): May 31, 2025
- End Date (After): March 31, 2026 (Extended by 10 months)
- Other Notes: Excludes VAT (zero-rate applied); terms remain subject to potential changes based on execution.
📈 2. [Professional Insight: What This Means for Investors]
This filing details a regulatory amendment to a supply contract originally signed in June 2022 with the ROK Navy Logistics Command.
The total contract value has been revised upward from approx. KRW 90.4B to approx. KRW 125.0B, reflecting an increase of approx. KRW 34.6B (38.28%). Consequently, the contract’s proportion relative to 2021 annual revenue increased from 4.33% to 5.98%. Additionally, the contract completion date was extended by 10 months, shifting the scheduled end date from May 31, 2025, to March 31, 2026. As noted in the filing, these terms remain subject to further adjustments depending on project progress.
📝 Editor’s Comment (by K-STOCK Editor)
The objective facts established in this amendment disclosure are the increase in the Navy maintenance contract value to KRW 125.0B and the extension of the contract period through March 31, 2026.
Moving forward, the primary objective checkpoints for investors are tracking project execution through the extended completion date of March 31, 2026, and monitoring for any subsequent regulatory amendment filings. As the disclosure explicitly notes potential future adjustments to value and duration, observing implementation progress remains essential.
📢 Disclaimer & Source Notice
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