Fact Source: Financial Supervisory Service DART / 2024-12-19
Disclosure Type: Major Management Matters Related to Investment Judgment (Amendment)
💡 3-Second Summary
SAMSUNG BIOLOGICS has amended the contract value of its 2021 biopharmaceutical contract manufacturing Letter of Intent (LOI) with a European pharmaceutical firm to approximately KRW 91.4B (USD 76.7M), while extending the counterparty confidentiality expiration date to December 31, 2030, at the customer’s request.
📊 1. [Key Disclosure Content & Major Figures Summary]
- Reason for Amendment: Extension of the confidentiality deadline at the customer’s request.
- Amendments Made (Data Integrity Verification):
- Contract Period Item: (Before Amendment) 2021.10.30 ~ 2024.12.31 ➔ (After Amendment) Deleted
- Confidentiality Deadline: (Before Amendment) 2024-12-31 ➔ (After Amendment) 2030-12-31
- Counterparty Disclosure Rule: Changed from “to be disclosed prior to December 31, 2024” to “to be disclosed prior to December 31, 2030, the main contract expiration date.”
- Core Contract Details:
- Title: Execution of Letter of Intent (LOI) for Contract Manufacturing of Biopharmaceuticals
- Counterparty: A pharmaceutical company located in Europe (Identity withheld until December 31, 2030, due to operational confidentiality).
- Final Confirmed Contract Value: KRW 91,369,732,137 (Confirmed total: USD 76,703,939)
- Value Adjustment Details: Increased by USD 20,122,939 from the prior USD 56,581,000 at the customer’s request.
- Applied Exchange Rate: Fixed at the initial base rate of USD/KRW 1,191.20 as of December 23, 2021.
- Ratio to Revenue at Initial Filing: 7.84% (Compared against the respective fiscal year’s revenue of KRW 1,164,776,873,641).
- Key Timeline: LOI signed on October 30, 2021 / Board Resolution or Fact Verification Date: March 30, 2022 / Amendment Filing Date: December 19, 2024.
- Regulatory Note: The stated contract value carries binding legal force between both parties. A separate formal disclosure will be filed once the definitive main contract is executed.
📈 2. [Expert Insight: What This Disclosure Means for Investors]
This amendment filing, submitted on December 19, 2024, primarily updates the confidentiality period and does not change the disclosed LOI structure, ensuring data alignment within the public registry.
The primary fundamental point is the modification of the underlying contract metrics. The updated ledger reflects a value expansion of USD 20.12 million at the customer’s request, bringing the finalized total to USD 76.70 million. Data validation shows that the ratio to historic revenue remains matched at 7.84%.
Simultaneously, the amendment updates the confidentiality period from the end of 2024 out to December 31, 2030. The document contains zero revisions to current balance sheet metrics, active production facility operations, or immediate CAPEX timelines. Because the filing does not detail any qualitative causes beyond the customer’s request for changing the dates, the contract process remains subject to future definitive disclosures.
📝 Editor’s Comment (by K-STOCK Editor)
SAMSUNG BIOLOGICS has processed an administrative amendment to its 2021 European LOI tracking ledger. According to the document filed on December 19, 2024, the contract value has been adjusted to roughly KRW 91.4B, and the confidentiality mask regarding the counterparty’s identity has been shifted to December 31, 2030.
For international investors, this amendment constitutes a mechanical alignment of disclosure parameters rather than a new immediate operational driver. The significance is restricted to the value update and the extension of the confidentiality period as requested by the client. The exchange rate from the initial disclosure date is applied as stated in the filing. As indicated in the regulatory notice, the definitive data will be publicized upon the execution of the main contract, meaning that the LOI remains subject to future definitive contract disclosures.
📢 Disclaimer and Source Information
Source: This content was newly structured and written based on official data submitted to the Financial Supervisory Service’s Electronic Disclosure System (DART).
Investment Risk Notice: This information is provided solely for informational and linguistic reference purposes. Under no circumstances does it constitute financial advice or a recommendation to buy or sell specific stocks. All investment decisions and financial responsibilities rest entirely with the investor.
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