Fact Source: Financial Supervisory Service DART
💡 3-Second Summary
Hanwha Systems has signed a major supply contract worth approximately KRW 859.3B with LIG Nex1 for the mass production of multi-function radars for the Cheongung-II export project to Iraq (IM3 project). This represents 30.65% of its 2024 consolidated revenue.
📊 [Key Disclosure Details & Financial Highlights]
- Contract Details
- Contract Type: Other Sales / Supply Contract
- Contract Title: Mass Production of Multi-Function Radars for IM3 Project (Cheongung-II Export to Iraq)
- Contract Value: KRW 859,270,937,070 (approx. KRW 859.3B)
- Recent Annual Revenue (2024 Consolidated): KRW 2,803,686,058,274
- Contract-to-Revenue Ratio: 30.65%
- Large Scale Corporation Classification: Applicable
- Contracting Party & Region
- Counterparty: LIG Nex1
- Relationship with Company: Not specified (-)
- Sales/Supply Region: Republic of Korea
- Contract Period & Payment Terms
- Contract Period: October 27, 2025 ~ January 28, 2033
- Contract Signing Date: October 27, 2025
- Payment Terms:
- Down Payment / Advance Payment: Yes
- 1st Advance Payment: Within 15 days after contract signing
- 2nd Advance Payment: December 22, 2025
- Remaining Balance: Paid upon completion of delivery and inspection
- Other Important Matters
- The contract value was converted to KRW using the Seoul Money Brokerage exchange rate of KRW 1,436.10/USD as of October 27, 2025.
- The contract value and duration are subject to change depending on project progress.
📝 Editor’s Comment (Key Follow-up Checkpoint)
📌 Monitoring Contract Execution and Potential Term Changes
This disclosure concerns a large-scale supply contract equivalent to 30.65% of the company’s recent annual revenue. Monitoring performance progress throughout the multi-year contract period (2025–2033) and checking for potential adjustments to contract terms or value is essential for understanding how this contract is reflected in actual profit and loss and financial standing. Related progress can be reviewed in future periodic filings, such as quarterly, half-year, and annual reports.
📢 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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