Fact Source: Financial Supervisory Service DART / 2025-10-27
Disclosure Type: Sales / Supply Contract
💡 Summary in 3 Seconds
Hanwha Systems has signed an 859.3 billion KRW supply contract with LIG Nex1 for the mass production of multi-function radars (MFR) for the Cheongung-II export project to Iraq.
📊 1. [Key Disclosure Details & Financial Highlights]
- Contract Name: Mass production of multi-function radar (MFR) sector for IM3 project (Cheongung-II MFR export project to Iraq)
- Contract Amount: KRW 859,270,937,070 (approx. KRW 859.3B / converted based on USD exchange rate)
- Relative Size: 30.65% of 2024 consolidated revenue (KRW 2.80T)
- Counterparty: LIG Nex1
- Supply Region: Republic of Korea
- Contract Period: October 27, 2025 ~ January 28, 2033 (approx. 7 years and 3 months)
- Payment Terms: 1st advance payment (within 15 days after contract execution), 2nd advance payment (December 22, 2025), final payment upon delivery and inspection completion
- Exchange Rate Applied: KRW 1,436.10/USD (based on Seoul Money Brokerage market average rate on October 27, 2025)
- Other Notes: Contract amount and duration are subject to change depending on project progress.
📈 2. [Professional Insight: What This Means for Investors]
This filing represents a major defense supply contract secured by Hanwha Systems with LIG Nex1 as the counterparty. The contract value of KRW 859.3B accounts for 30.65% of Hanwha Systems’ consolidated annual revenue for 2024 (approx. KRW 2.80T), carrying significant financial proportion as a single agreement.
According to the official filing, the project corresponds to the export of Cheongung-II multi-function radars to Iraq, with an execution timeline spanning from October 27, 2025 to January 28, 2033. Because contract revenues are spread over a long-term fulfillment horizon, key objective checkpoints include adherence to the stated advance payment timeline (1st payment within 15 days of execution; 2nd payment on December 22, 2025) and milestone deliveries.
📝 Editor’s Comment (by K-STOCK Editor)
The objective fact established in this disclosure is that Hanwha Systems has secured an 859.3 billion KRW contract—equivalent to 30.65% of its recent annual revenue—for the production of Cheongung-II multi-function radars bound for Iraq.
Moving forward, the primary objective checkpoints for investors are tracking the implementation progress throughout the scheduled contract period ending January 28, 2033, and verifying the receipt of scheduled advance payments as outlined in the contract terms. As the filing explicitly notes that contract terms and amounts may vary depending on project progress, monitoring for any subsequent amendment disclosures remains essential.
📢 Disclaimer & Source Notice
Source: This content was newly structured and written based on official data submitted to the Financial Supervisory Service’s Data Analysis, Retrieval and Transfer System (DART).
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