Termination of Dobongsan-Okjeong Metropolitan Railway Train Manufacturing Contract

Contract termination: Dobongsan-Okjeong metropolitan railway train manufacturing contract terminated; termination amount: 49.88 billion KRW
13.94% of recent sales (3,578.4 billion KRW, 2023 consolidated)
Reason: Public Procurement Service notified contract cancellation and forfeiture of contract deposit due to the company's delivery delay
Counterparty: Gyeonggi Provincial Government Northern Office; contract period: 2024-08-08 to 2028-07-18
Company disputes the reason; plans to attend procurement hearing and consider legal action