Inswave signs 9.88B KRW core banking modernization contract with LG CNS - Large order representing 25.35% of revenue

Inswave signed a 'Core Banking Modernization Web Terminal Conversion' contract with LG CNS, valued at 9.88 billion KRW (excluding VAT).
This large order accounts for 25.35% of 2025 consolidated revenue (38.96 billion KRW), with revenue recognition expected through December 2027.
LG CNS, an IT service giant with annual revenue of 6.1 trillion KRW, has a track record of similar contracts with Inswave over the past 3 years, ensuring high reliability.
Payment terms are 100% residual after final inspection, but negotiations with the client are underway to change terms; a subsequent correction disclosure will be made.
[AI Summary]This contract is positive for Inswave's long-term growth by securing a major client (LG CNS) in the financial IT modernization sector, but the post-inspection payment structure poses liquidity risk, and the outcome of term negotiations should be monitored.