Namkwang Engineering Secures 20.3 Billion KRW Contract Amendment for Yangju Hoicheon Development Project with Korea Land & Housing Corporation, Boosting Order Backlog

The contract value increased from 17.86 billion KRW to 20.28 billion KRW, an increase of about 2.42 billion KRW, representing 5.69% of the company's 2021 consolidated revenue.
The counterparty is Korea Land & Housing Corporation, a highly credible state-owned entity with payment on progress basis.
While the project timeline and cost may fluctuate, this amendment strengthens long-term revenue visibility and cash flow.
[AI Summary]This contract amendment signals positive shareholder value through operational growth without equity dilution. The high-credit counterparty minimizes risk and supports sustainable earnings.