TONGYANG Amends Construction Contract with KEPCO to 36.2 Billion Won; Limited Impact on Shareholder Value
TONGYANG corrected the contract amount for the Seodaemun-Eunpyeong branch complex office building construction with KEPCO from 37.12 billion won to 36.17 billion won due to final completion settlement.
TONGYANG holds a 65% stake in the project, with total construction value of 55.65 billion won.
This amendment is a minor adjustment; no new shares issued or capital changes.
Counterparty KEPCO is a top-tier state-owned utility with high creditworthiness.
The contract represents 5.2% of TONGYANG's 2021 consolidated sales of 699.6 billion won, with limited profit impact.
[AI Summary]TONGYANG's contract amendment involves a small reduction in contract value, not affecting capital structure or investor sentiment. The stable revenue stream from a high-credit state-owned counterparty is expected to support shareholder value.
KOSPI Filing Information
[Correction Of Description] Conclusion Of Single Sales And Supply Agreement (Voluntary Disclosure)