Fact Source: Financial Supervisory Service DART
💡 3-Second Summary
Hanwha Systems has finalized the guarantee period (January 15, 2025 – January 15, 2026) for its debt guarantee decision of KRW 55.79B (USD 40M) to back operational fund borrowings by its affiliated company, Philly Shipyard Inc.
📊 [Key Disclosure Details & Financial Highlights]
- Correction Overview
- Correction Date: January 15, 2025
- Original Filing & Date: Decision on Guarantees for Others (November 29, 2024)
- Reason for Correction: Confirmation of the debt guarantee period
- Main Corrected Details
- Debt Guarantee Period:
- Before: Not specified (-) (Scheduled for 12 months from initial agreement)
- After: January 15, 2025 ~ January 15, 2026
- Revision of Other Important Matters: Deletion of preliminary condition clauses (“Subject to completion of PSI acquisition process”)
- Detailed Debt Guarantee Terms
- Debtor: Philly Shipyard Inc. (Relationship: Affiliated Company)
- Creditor: Woori America Bank
- Guaranteed Debt Amount: KRW 55,788,000,000 (USD 40,000,000 / Exchange rate of KRW 1,394.70/USD applied)
- Total Equity (as of end-2023 Consolidated): KRW 2,154,126,164,004
- Guarantee-to-Equity Ratio: 2.59%
- Total Outstanding Debt Guarantee Balance: KRW 55,788,000,000
- Board Resolution Date: November 29, 2024 (3 Outside Directors present)
- Debtor Financial Summary (Philly Shipyard Inc. / End-2023 / Unit: KRW M)
- Total Assets: KRW 417,644M / Total Liabilities: KRW 371,825M / Total Equity: KRW 45,819M
- Revenue: KRW 576,789M / Net Loss: -KRW 86,302M
- Other Important Matters
- This disclosure pertains to a corporate guarantee for new local operating borrowings of Philly Shipyard Inc., acquired via subsidiary HS USA Holdings Corp.
- KRW values remain subject to change depending on exchange rate fluctuations.
📝 Editor’s Comment (Key Follow-up Checkpoint)
📌 Monitoring Debt Guarantee Fulfillment and Condition Changes
This disclosure reports the finalization of the guarantee period (Jan 15, 2025 – Jan 15, 2026) regarding the debt guarantee for operating capital borrowings of Philly Shipyard Inc. Verifying the debtor’s debt servicing performance during the confirmed guarantee period and checking for any subsequent adjustments to the guarantee terms serve as key follow-up checkpoints. Related progress can be reviewed in future periodic filings.
📢 Disclaimer & Source Information
Source: This content was structured and generated based on official filings from the Financial Supervisory Service’s DART system.
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