Seowon Corrects Unit Error in Contingent Liabilities Note and Reports 2025 Results: Operating Profit 53.3B KRW but Net Loss Due to Derivative Losses

Reason for correction: Unit of measurement for Note 34 (contingent liabilities and commitments) in consolidated and separate financial statements corrected from millions to won; no change in actual figures.
2025 consolidated performance: Revenue 1.7136 trillion KRW (+39.4% YoY), operating profit 53.3 billion KRW (+92.9%), but net loss of 0.34 billion KRW due to derivative valuation and transaction losses of approx. 193.4 billion KRW.
Financial position: Debt ratio 216% (vs 183% prior year), total borrowings 568.3 billion KRW, cash equivalents 32.6 billion KRW. Operating cash flow negative 9.7 billion KRW.
Dividends: No year-end dividend declared due to separate net loss of 8.5 billion KRW.
Other: Property, plant and equipment 428.2 billion KRW (including land revaluation), exchangeable bonds issued (Daecheng) 12 billion KRW, sold entire stake in subsidiary Taewoo.
[AI Summary]This correction filing is a minor unit error fix that enhances reliability, but despite strong operating profit, the net loss from derivatives and rising debt ratio pose investment risks.